Bakkt to Discontinue Personal Applications and Focus on B2B Technology Solutions

02/13/2023 13:52 • Daily Digest • 208 views

On February 13, the digital asset platform Bakkt announced that its personal applications will be discontinued on March 16. In the future, it will focus on its B2B technology solutions, that is, providing cryptocurrency and loyalty solutions for enterprise customers through SaaS and API solutions on the security and compliance platform. Current Bakkt App users will retain access to all cryptocurrencies and cash on the Bakkt platform. Users will still be able to view cryptocurrency balances and access cryptocurrency transaction reports for tax purposes.

Bakkt’s personal app will be out of service on March 16

Interpretation of the news:

Bakkt, a digital asset platform provider, is discontinuing its personal applications on March 16, and shifting its focus towards servicing its enterprise customers through its B2B technology solutions. The company aims to provide cryptocurrency and loyalty solutions to these customers through its Security and Compliance platform. This move is intended to help Bakkt achieve its growth plans in the coming years.

The discontinuation of the Bakkt App does not affect the users’ access to their crypto holdings and cash on the platform. Users will still be able to view their cryptocurrency balances and access transaction reports for tax purposes. However, those who have been using the Bakkt App for personal trading will need to find an alternative platform.

By transitioning to B2B, Bakkt aims to continue its mission of making digital assets more accessible to the mainstream audience. The company is particularly focused on creating solutions for merchants, consumers, and brokers. Its goal is to bring cryptocurrency payments and rewards options to the masses, particularly as more businesses look to leverage the benefits of this new technology.

Bakkt’s SaaS and API solutions will be tailored to a wide range of enterprise customers, including big retailers, gaming companies, financial institutions, and more. It will leverage its existing Security and Compliance platform to ensure that its B2B services are secure, compliant, and user-friendly. This platform will also enable Bakkt to process high volumes of transactions, while maintaining a high level of security.

In conclusion, Bakkt’s decision to discontinue its personal applications may seem like a drastic move at first. However, this shift in focus will enable the company to reach out to more enterprise customers and provide them with the necessary digital asset solutions. Bakkt’s commitment to security, compliance, and innovation is sure to create enormous value for its customers in the years to come.

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Bakkt to Discontinue Personal Applications and Focus on B2B Technology Solutions

Bakkt’s personal app will be out of service on March 16

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