Bakkt announced the imminent termination of the application for retail users


Institutional investor platform Bakkt announced the decision to suspend the application for retail users and completely refocus the business on corporate clients.

Bakkt app for retail investors was launched in March 2021. It allows you to combine various assets in a single interface, including cryptocurrencies, loyalty program points and gift cards.. The application will be terminated on March 16 this year.

The company’s press release highlights that Bakkt App users will be able to access their crypto and fiat funds through a new web-based platform.. It will be available on any device.

“The termination of the application does not mean that we will leave our customers and partners. We will ensure the support of all our users,” said Bakkt President and CEO Gavin Michael.

At the same time, the company plans to continue supporting various loyalty programs in its applications.. However, access to them will be available only through the API and a subscription to the service for corporate users.

Last summer, Gavin Michael said that it was impossible to remove bitcoin from the financial system.