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Bakkt Holdings Inc. introduced Monday that it’s going to solely give attention to business-to-business expertise options and discontinue its client software. The corporate acknowledged 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 Client App to Sundown, Loyalty Factors Nonetheless Accessible By means of Different Channels
Following Bakkt’s pending acquisition of Apex Crypto from Apex Fintech Options, the corporate has introduced it’s discontinuing its client enterprise enterprise. Bakkt’s client platform will shift its focus to supply companies with crypto and loyalty experiences for his or her prospects by means of 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 proceed to realize traction with our B2B2C technique, we’re laser-focused on offering our companions and shoppers with seamless options that greatest serve their wants,” Gavin Michael, president and CEO of Bakkt mentioned in a statement. “The discontinuation of the app ensures we’re supporting the connection our companions and shoppers have with their prospects. With this transfer, we’re focusing our funding on our core options which have product-market match and are positioned to scale rapidly.”
Bakkt acknowledged Monday that the pending Apex Crypto acquisition aligns with its business-to-business-to-consumer focus. The corporate emphasised its dedication to “offering crypto merchandise to a variety of consumer industries.” It added that prospects utilizing the buyer app “will quickly be capable to entry their money and crypto from any system, each at dwelling and on the go.” Bakkt’s Visa-branded debit playing cards may also be deactivated on March 16, 2023.
Bakkt’s app documentation explains that the brand new net expertise can have a number of variations from the buyer software. Loyalty factors will not be seen, however they don’t seem to be misplaced as Bakkt assures that loyalty level rewards can “nonetheless be obtained by visiting the precise loyalty program’s app or web site.” Bakkt additionally famous that there will probably be extra updates sooner or later for present client app customers.
What do you consider Bakkt’s shift in direction of a business-to-business-to-consumer focus and the discontinuation of its client app? Share your ideas within the feedback beneath.
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