Bakkt Holdings, Inc. (NYSE:BKKT) announced today that it will be sunsetting its consumer-facing app. Bakkt will continue its core focus of providing businesses with crypto and loyalty experiences for their customers through SaaS and API solutions on a secure and compliant platform.

“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. The discontinuation of the app ensures we are supporting the relationship our partners and clients have with their customers,” said Gavin Michael, President & CEO of Bakkt. “With this move, we are focusing our investment on our core solutions that have product-market fit and are positioned to scale quickly.”

In November 2022, Bakkt entered into a definitive agreement to acquire Apex Crypto from Apex Fintech Solutions, Inc. Apex Crypto, a turnkey platform for integrated crypto trading, provides services to more than 30 signed fintech partners, serving more than 5 million customers. Bakkt notes that the pending Apex Crypto acquisition affirms Bakkt’s B2B2C approach and go-forward strategy of bringing crypto products to a broad universe of client verticals.

Current Bakkt App users will retain access to all their crypto and cash on the Bakkt platform via a new web experience that is accessible from all devices. Users will still be able to view crypto balances, access crypto transaction reports for tax purposes.

The app will officially sunset on March 16, 2023.

Here is a list of FAQ provided by Bakkt:

• What will happen to my Bakkt Visa® Debit Card?

Bakkt Visa® Debit Cards will decline new transactions starting March 16, 2023. Any transactions authorized before your card is deactivated will still be able to be completed within 30 days of card deactivation. Prior to March 16, you can also deactivate your card in the Bakkt App. We advise you to view your transaction history in the Bakkt App. Changes to your card will not impact your Bakkt Wallet, and your funds will be accessible in your account through the web experience. Deactivating a Bakkt Visa® Debit Card will have no impact to your credit.

• How can I access my gift cards purchased in the Bakkt App?

If you do not wish to use your gift cards at this time, you should save all your gift card details stored in the Bakkt App for your reference. You will not be able to access gift cards in the web experience. For further assistance, please email our Customer Care team at help@bakkt.com.

• I have a gift card for Bakkt Cash. What happens to that?

All users with a gift card for Bakkt Cash will be contacted by our customer care team directly. For further assistance, please email our Customer Care team at help@bakkt.com.

• What happens to my linked loyalty rewards?

While you will no longer be able to view your loyalty rewards via Bakkt, your rewards have not been lost.  Your rewards can still be accessed by visiting the individual loyalty program’s app or website.

• I can’t link my bank account to cash out my funds. What should I do?

Bakkt supports linking with many banks, but not all. You can view a list of non-supported banks here. If your bank is not supported, you can link a debit card to cash out your funds before the Bakkt App goes away. When linking a debit card, there is a $0.25 fee, and the transfer will happen instantly. For further assistance with liquidating your funds, please email our Customer Care team at help@bakkt.com.