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Bakkt kills off consumer app

Bakkt kills off consumer app

Digital asset player Bakkt is sunsetting its consumer app and focussing on its business-to-business-to-consumer offering.

The Bakkt app will be closed next month, after which users will have to access their crypto and cash on the web. Users will still be able to view crypto balances and access crypto transaction reports for tax purposes.

The firm is now putting all of its focus on providing businesses with crypto and loyalty experiences for their customers through SaaS and API offerings.

In November, Bakkt struck a deal to buy Apex Crypto, a turnkey platform for integrated crypto trading which provides services to more than 30 signed fintech partners, serving more than five million customers.

Gavin Michael, president and CEO, Bakkt, says: "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. The discontinuation of the app ensures we are supporting the relationship our partners and clients have with their customers."

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