Bakkt, a digital asset firm, has recently dropped 25 of the assorted 36 crypto tokens that have been listed on its recently acquired trading platform- Apex Crypto. On 12th May, a spokesperson for the company informed Cointelegraph that this decision was a part of their regular coin listing review process, where they added that the best interests of the clients and the consumer were the company’s core commitment.
Their review process would ensure that those interests were served best when one contemplated the most up-to-date regulatory guidance, as well as the latest developments in the industry. Further details are quite sparse about this, but most of the tokens dropped are tied to popular decentralized finance and nonfungible token ecosystems.
Bakkt Has Delisted A Lot Of Crypto Tokens
The tokens delisted by Bakkt are ApeCoin, Aave, Avalanche, Basic Attention Token, Bancor Network Token, Chiliz, Chainlink, Curve DAO, Cosmos, Fantom, Enjin Coin, GALA, Filecoin, Internet Computer, The Graph, Maker DAO, Loopring, Republic Stellar, Synthetic, SushiSwap, Uniswap, Texos, and Yearn.finance.
In November 2022, the company also announced its plans of acquiring the unprofitable Apex Crypto in order to access a greater foothold in the market of fintech. The so-called Turnkey service, carries out clearing, execution, custody, tax, and cost-basis services for around five million customers through 30 different fintech clients.
In March, Bakkt also shut down its retail-oriented app that offered loyalty rewards, crypto trading, and gift cards, stating that it would be concentrated on business-to-business operations. The company mentioned that it would be providing loyalty and crypto businesses through application programming interface solutions.
