Bakkt Shifts Focus to B2B Technology Solutions, Plans to Discontinue Consumer App

Bakkt Holdings Inc. introduced Monday that it’s going to solely give attention to business-to-business expertise options and discontinue its shopper software. The firm said that the app will formally be discontinued on March 16, 2023, and app customers will proceed to have entry to all of their property.

Bakkt Consumer App to Sunset, Loyalty Points Still Accessible Through Other Channels

Following Bakkt’s pending acquisition of Apex Crypto from Apex Fintech Solutions, the corporate has introduced it’s discontinuing its shopper enterprise enterprise. Bakkt’s shopper platform will shift its focus to supply companies with crypto and loyalty experiences for his or her clients by software-as-a-service and software programming interface options on a safe and compliant platform. The crypto firm refers to this focus as its “business-to-business-to-consumer” technique.

“As we continue to gain traction with our B2B2C strategy, we are laser-focused on providing our partners and clients with seamless solutions that best serve their needs,” Gavin Michael, president and CEO of Bakkt mentioned in a statement. “The discontinuation of the app ensures we are supporting the relationship our partners and clients have with their customers. With this move, we are focusing our investment on our core solutions that have product-market fit and are positioned to scale quickly.”

Bakkt said Monday that the pending Apex Crypto acquisition aligns with its business-to-business-to-consumer focus. The firm emphasised its dedication to “providing crypto products to a wide range of client industries.” It added that clients utilizing the buyer app “will soon be able to access their cash and crypto from any device, both at home and on the go.” Bakkt’s Visa-branded debit playing cards will even be deactivated on March 16, 2023.

Bakkt’s app documentation explains that the brand new net expertise could have a number of variations from the buyer software. Loyalty factors will not be seen, however they aren’t misplaced as Bakkt assures that loyalty level rewards can “still be obtained by visiting the specific loyalty program’s app or website.” Bakkt additionally famous that there might be further updates sooner or later for present shopper app customers.

What do you consider Bakkt’s shift in the direction of a business-to-business-to-consumer focus and the discontinuation of its shopper app? Share your ideas within the feedback under.