Bakkt Holdings that develops technology to link commerce, announces to shift its focus on providing scalable B2B technology to smoothen functioning and sunset customer oriented app.
The main goal of Bakkt is to offer companies SaaS and API solutions on a secure and compliant platform that enable businesses to offer their consumers loyalty and cryptocurrency experiences. Despite today’s announcement that Bakkt would continue to concentrate on offering scalable business-to-business technology solutions and will discontinue its consumer-facing app.
Gavin Michael, President & CEO of Bakkt said that “With this move, we are focusing our investment on our core solutions that have product-market fit and are positioned to scale quickly.”
In order to serve more than 5 million clients and more than 30 signed fintech partners, Bakkt and Apex Crypto entered into a binding partnership in November 2022 planning to offer cryptocurrency solutions across a wide range of customer verticals. All of their cryptocurrency and cash on the Bakkt platform will continue to be accessible to current Bakkt App users through a new web experience that is available on all devices.