Bakkt delists majority of tokens from recently acquired Apex Crypto platform


Digital asset agency Bakkt has dropped 25 of the 36 crypto tokens listed on its lately acquired buying and selling platform Apex Crypto.

A spokeswoman for the corporate instructed Cointelegraph on Could 12 that the choice was “a part of our common coin itemizing overview course of,” and added that:

“Our shoppers’ and their customers’ finest pursuits are our core dedication, and our overview course of ensures these pursuits are finest served after we ponder essentially the most up-to-date regulatory steerage and the most recent trade developments.”

Additional particulars are sparse at this stage, nonetheless many of the dropped tokens are tied to in style decentralized finance and nonfungible token ecosystems.

The delisted tokens embody: Aave (AAVE), ApeCoin (APE), Avalanche (AVAX), Bancor Community Token (BNT), Fundamental Consideration Token (BAT), Chainlink (LINK), Chiliz (CHZ), Compound Token (COMP), Cosmos (ATOM), Curve DAO (CRV), Enjin Coin (ENJ), Fantom (FTM), Filecoin (FIL), GALA (GALA), The Graph (GRT), Web Pc (ICP), Loopring (LRC), Maker DAO (MKR), Republic (REN), Stellar (XLM), Sushiswap (SUSHI), Synthetix (SNX), Texos (XTZ), Uniswap (UNI) and Yearn Finance (YFI).

Bakkt announced plans to acquire the unprofitable Apex Crypto in November to realize a higher toehold within the fintech market that Apex catered to. Apex Crypto, a so-called “turnkey” service carries out execution, clearing, custody, value foundation and tax providers for five million clients by 30 fintech clients. Bakkt completed the acquisition in April for $55 million in money and $145 million in inventory.

Associated: Bakkt president Adam White announces departure from digital asset platform

Bakkt acquired a broker-dealer license from Bumped Monetary in February, it disclosed in a monetary assertion.

In March, Bakkt shut down its retail-oriented app that provided crypto buying and selling, loyalty rewards and present playing cards, saying it will consider B2B operations. Bakkt said on the time that it will present crypto and loyalty to companies by SaaS and API options.

Bakkt is majority owned by Intercontinental Change, which additionally owns the New York Inventory Change. Its inventory closed down 7% on Could 12. 

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