Bakkt, a crypto trading and services company owned by the financial exchange operator Intercontinental Exchange is delisting several major cryptocurrencies.
In total, the firm is cutting support for 23 digital assets. These include a number of prominent DeFi tokens such as UNI and AAVE. Other well-known cryptocurrencies have also been dropped by Bakkt. These include ENJ, XLM, and XTZ to name a few.
Bakkt Delisting Reflects Pivot From Retail to B2B
The news that Bakkt will delist a number of altcoins follows the firm’s announcement in April that it has completed its acquisition of Apex Crypto.
In a press release published at the time, Bakkt said the takeover is in line with its efforts to double down on the business-to-business (B2B) market for crypto services. To this end, as well as acquiring Apex’s turnkey crypto trading platform, Bakkt wound down its own retail cryptocurrency exchange in February.
By refocusing on the B2B…
