Home Cryptocurrency Bakkt delists majority of tokens from lately acquired Apex Crypto platform

Bakkt delists majority of tokens from lately acquired Apex Crypto platform

Bakkt delists majority of tokens from lately 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 informed Cointelegraph on Might 12 that the choice was “a part of our common coin itemizing assessment course of,” and added that:

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

Additional particulars are sparse at this stage, nevertheless many of the dropped tokens are tied to well-liked decentralized finance and nonfungible token ecosystems.

The delisted tokens embody: Aave (AAVE), ApeCoin (APE), Avalanche (AVAX), Bancor Community Token (BNT), Primary 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 Laptop (ICP), Loopring (LRC), Maker DAO (MKR), Republic (REN), Stellar (XLM), Sushiswap (SUSHI), Synthetix (SNX), Texos (XTZ), Uniswap (UNI) and Yearn Finance (YFI).

Bakkt introduced plans to amass the unprofitable Apex Crypto in November to achieve a better 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 prospects via 30 fintech prospects. Bakkt accomplished the acquisition in April for $55 million in money and $145 million in inventory.

Associated: Bakkt president Adam White proclaims 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 reward playing cards, saying it could focus on B2B operations. Bakkt said on the time that it could present crypto and loyalty to companies via SaaS and API options.

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

Journal: Crypto regulation: Does SEC Chair Gary Gensler have the ultimate say?