Bakkt Announces App Discontinuation as Company Shifts Focus to B2B Tech Solutions

Two years after launching its app, Bakkt has mentioned it would not be obtainable as of the sixteenth of March, 2023.

IT service administration firm Bakkt (NYSE: BKKT) is terminating its consumer-facing app because it shifts its focus to business-to-business (B2B) know-how options. Announcing the top of the app, Bakkt emphasizes its continued efforts to supply crypto and loyalty experiences to companies. The corporate mentioned it will present the providers by means of SaaS and API options.

Bakkt unveiled its digital pockets app in 2021, making it obtainable to particular retailers like Starbucks. On the time, the corporate mentioned the digital pockets customers may use Bitcoin as cost and convert collaborating rewards factors to money. Forward of its launch, greater than 500,000 customers participated within the invitation-only Early Entry Program as new options have been added to the app and examined. Bakkt rolled out the app to each iOS and Android customers on the App Retailer and Google Play Retailer. Earlier than its eventual launch, the corporate introduced the app in October 2019 with plans to make it obtainable throughout the first half of 2020.

Bakkt Publicizes App Sundown After Two Years of Launch

Two years after launching its app, Bakkt has mentioned it would not be obtainable as of the sixteenth of March, 2023. The corporate’s President and CEO, Gavin Michael, famous:

“As we proceed to achieve traction with our B2B2C technique, we’re laser targeted on offering our companions and shoppers with seamless options that greatest serve their wants. 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.”

The discontinuation of the Bakkt app doesn’t imply that prospects will not have entry to their property. Whereas they are going to not be capable of attain their crypto and money by way of the app, there’s a provision for entry by way of a brand new net expertise. In line with the IT service firm, the online is appropriate for all gadgets, and customers can view their crypto balances with the brand new service. Clients may also be capable of entry crypto transaction stories for tax makes use of.

Assuring prospects that their property stay safe even with out the app, Bakkt noted some required actions earlier than the official sundown. Customers are to save lots of all their present card particulars for reference, as entry to present playing cards will not be obtainable. Additionally, prospects might have to hyperlink a checking account to their Bakkt to withdraw funds on the internet in the event that they solely have debit playing cards related to their accounts. Different providers that won’t be obtainable on the brand new Bakkt net expertise together with viewing transaction historical past, linking loyalty packages and monitor factors, and extra. Extra importantly, solely chosen banks are supported within the newly launched net expertise.

Blockchain News, Cryptocurrency news, News

Ibukun Ogundare

Ibukun is a crypto/finance author fascinated about passing related data, utilizing non-complex phrases to succeed in every kind of viewers.
Aside from writing, she likes to see films, prepare dinner, and discover eating places within the metropolis of Lagos, the place she resides.

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