Bakkt sunsets its consumer-facing crypto app to focus on B2B solutions

Digital asset platform Bakkt has announced its plans to shift its focus to B2B expertise options. The corporate mentioned it would quickly be sunsetting its consumer-facing app, which was designed to offer customers the flexibility to make the most of their digital property in numerous methods. The app, launched in March 2021, supplied a user-friendly expertise that introduced collectively numerous digital property, together with cryptocurrencies, loyalty factors and reward playing cards.

Regardless of the discontinuation of its consumer-facing app, present Bakkt App customers will nonetheless have entry to their crypto and money holdings via a brand new web-based platform, accessible on all units. In line with Bakkt, customers can nonetheless examine their crypto balances and procure transaction experiences for tax functions. The app is predicted to stop operations on March 16. 

Bakkt president and CEO Gavin Michael emphasised the corporate’s dedication to offering the very best options to their companions and purchasers, saying, “The discontinuation of the app ensures we’re supporting the connection our companions and purchasers have with their prospects.” He added that the corporate is focusing its funding on its core options which have product-market match and are positioned for speedy scaling.

Bakkt goals to proceed offering companies with crypto and loyalty experiences for its prospects via SaaS and API options on a safe and compliant platform.

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In November, Cointelegraph reported that Bakkt had agreed to accumulate Apex Crypto for a value of $200 million. Apex Crypto is a turnkey platform for built-in crypto buying and selling, serving over 5 million prospects via greater than 30 fintech companions. The upcoming acquisition additional reinforces Bakkt’s B2B2C (business-to-business-to-consumer) technique and its aim of bringing crypto merchandise to a broader shopper base.

The mixing of Apex Crypto into Bakkt’s operations is predicted to reinforce the cryptocurrency agency’s choices and attain a wider viewers via fintech corporations, buying and selling platforms and neo-banks. This collaboration goals to drive the event and innovation of crypto merchandise comparable to staking, transfers, and NFTs, in the end resulting in a rise in income and variety for Bakkt because it expands its companies.