Bakkt Bids Farewell to Personal Applications, Shifts Focus to B2B Technology Solutions
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…
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, the digital asset platform, recently announced its decision to discontinue its personal applications on March 16, 2020. The company has chosen to shift its focus towards B2B technology solutions that will cater to enterprise customers by offering cryptocurrency and loyalty solutions via SaaS (Software as a Service) and API (Application Programming Interface) solutions on the security and compliance platform. The company’s objective is to maximize its growth potential by tapping into a larger market segment.
With the increasing demand for cryptocurrency-related solutions, Bakkt aims to capitalize on this emerging trend by providing businesses with a trustworthy platform that guarantees security and compliance. Their technology solutions will enable enterprises to seamlessly integrate cryptocurrency into their operations while ensuring that all compliance regulations are strictly met.
Despite discontinuing its personal applications, Bakkt has assured its users that they will retain access to all cryptocurrencies and cash on the Bakkt platform. Users will still be able to view their cryptocurrency balances and access cryptocurrency transaction reports for tax purposes. This means that the change will not affect the way that customers manage their digital assets, and there will be no loss of funds or benefits.
This shift in focus from personal applications to B2B technology solution has the potential to revolutionize the way that businesses operate. Companies will now have the option to incorporate cryptocurrency and loyalty solutions offered by Bakkt, which is one of the leading platforms in the market.
In conclusion, Bakkt’s decision to discontinue its personal applications is a strategic move aimed at targeting a larger audience for its B2B technology solutions. This decision aligns with the company’s objective of maximizing growth potential and becoming a leader in the cryptocurrency industry. Bakkt’s enterprise customers will have access to a secure and compliant platform that provides cryptocurrency and loyalty solutions via SaaS and API.
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