The Bakkt consumer app is being discontinued, but loyalty points can still be redeemed in other ways.
In light of Bakkt’s planned acquisition of Apex Crypto from Apex Fintech Solutions, Apex Crypto has announced it will be winding down its consumer business operations. By offering businesses secure and compliant software-as-a-service and application programming interface solutions for crypto and loyalty programmes, Bakkt’s consumer platform will shift its focus. This is what the crypto firm means by its “business-to-business-to-consumer” strategy.
As Bakkt’s B2B2C strategy gains traction, the company is “laser-focused” on meeting the needs of its partners and customers, according to CEO Gavin Michael. With the app’s removal, we can better support our partners’ and clients’ relationships with their customers. By doing this, we’re able to put more resources into our most promising solutions, which have already proven their viability in the market and are ready to expand rapidly.
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Bakkt announced on Monday that the planned acquisition of Apex Crypto fits in with its B2B2C strategy. The company has stated that it is dedicated to “serving a broad spectrum of client industries with its crypto products.” Moreover, it stated that “soon customers will be able to access their cash and crypto from any device, both at home and on the go” when using the consumer app. Debit cards issued by Bakkt that are branded with the Visa logo will also be disabled on March 16th, 2023.
According to the Bakkt app’s documentation, there will be several key distinctions between the new web experience and the consumer app. Even though you won’t be able to see your loyalty points, Bakkt says you can “still obtain the specific loyalty program’s app or website” to redeem them for rewards. Bakkt also mentioned that current users of the consumer app will receive future updates.