Bakkt Holdings Inc. announced Monday that it will solely focus on business-to-business technology solutions and discontinue its consumer application. The company stated that the app will officially be discontinued on March 16, 2023, and app users will continue to have access to all of their assets.
Following Bakkt’s pending acquisition of Apex Crypto from Apex Fintech Solutions, the company has announced it is discontinuing its consumer business venture. Bakkt’s consumer platform will shift its focus to provide businesses with crypto and loyalty experiences for their customers through software-as-a-service and application programming interface solutions on a secure and compliant platform. The crypto company refers to this focus as its “business-to-business-to-consumer” strategy.
“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 said 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 stated Monday that the pending Apex Crypto acquisition aligns with its business-to-business-to-consumer focus. The company emphasized its commitment to “providing crypto products to a wide range of client industries.” It added that customers using the consumer 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 cards will also be deactivated on March 16, 2023.
Bakkt’s app documentation explains that the new web experience will have several differences from the consumer application. Loyalty points will no longer be visible, but they are not lost as Bakkt assures that loyalty point rewards can “still be obtained by visiting the specific loyalty program’s app or website.” Bakkt also noted that there will be additional updates in the future for current consumer app users.
What do you think of Bakkt’s shift towards a business-to-business-to-consumer focus and the discontinuation of its consumer app? Share your thoughts in the comments below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
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Bakkt Holdings Inc. announced Monday that it will solely focus on business-to-business technology solutions and discontinue its consumer application. The company stated that the app will officially be discontinued on March 16, 2023, and app users will continue to have access to all of their assets.
Following Bakkt’s pending acquisition of Apex Crypto from Apex Fintech Solutions, the company has announced it is discontinuing its consumer business venture. Bakkt’s consumer platform will shift its focus to provide businesses with crypto and loyalty experiences for their customers through software-as-a-service and application programming interface solutions on a secure and compliant platform. The crypto company refers to this focus as its “business-to-business-to-consumer” strategy.
“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 said 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 stated Monday that the pending Apex Crypto acquisition aligns with its business-to-business-to-consumer focus. The company emphasized its commitment to “providing crypto products to a wide range of client industries.” It added that customers using the consumer 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 cards will also be deactivated on March 16, 2023.
Bakkt’s app documentation explains that the new web experience will have several differences from the consumer application. Loyalty points will no longer be visible, but they are not lost as Bakkt assures that loyalty point rewards can “still be obtained by visiting the specific loyalty program’s app or website.” Bakkt also noted that there will be additional updates in the future for current consumer app users.
What do you think of Bakkt’s shift towards a business-to-business-to-consumer focus and the discontinuation of its consumer app? Share your thoughts in the comments below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Tony Hawk's Latest NFTs to Come With Signed Physical Skateboards
Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs ... read more.
Polygon fell by over 10% on Feb. 13, as a red wave swept through cryptocurrency markets during Monday’s session. Volatility was high ahead of Tuesday’s U.S. consumer price index release, and with the depegging of BUSD. Cosmos also traded lower to start the week, hitting a 14-day low.
Polygon (MATIC) dropped by as much as 10% to start the week, as the global cryptocurrency market cap plunged on Monday.
Following a high of $1.29 on Sunday, MATIC/USD slipped to an intraday low of $1.16 earlier today.
Today’s move saw the token fall to its lowest level since February 1, when MATIC was trading at a bottom of $1.06 .
As can be seen from the chart, Monday’s sell-off occurred as the 14-day relative strength index (RSI) fell below support at 55.00
Currently, the index is tracking at 53.53, which is its weakest reading since January 8, when polygon was valued at $0.79.
Should momentum continue to decline, a floor at 50.00 could be where MATIC bulls find stability, as they begin to prepare for future rallies.
Cosmos (ATOM) was another notable mover on Monday, as it also dropped to a multi-week low.
ATOM/USD fell to a floor of $12.85 earlier in the day, which comes less than 24 hours after trading at $13.94.
Monday’s drop in price sees ATOM trade at its weakest point since January 30, when the token bottomed out at $12.78.
Looking at the chart, today’s move comes following two breakouts, first the $13.00 mark, then a move below a long-term floor on the RSI.
This aforementioned point of support has been the 49.00 zone, which was broken earlier today, with the index now tracking at 46.32.
If momentum continues to move downward over the next few days, there is a strong likelihood that ATOM could be heading to a lower support at $12.50.
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Could cosmos snap its recent bear run, and rebound this week? Let us know your thoughts in the comments.
Eliman brings an eclectic point of view to market analysis. He was previously a brokerage director and online trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
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