The crypto platform is moving away from its original trading-focused model as declining volume weighs on results, according to the company’s latest direction.
Bakkt is fully pivoting to its stablecoin business after reporting a loss, with declining trading volume pressuring its earlier crypto trading operations. The move marks a clear shift away from the company’s original focus and toward a business line tied to stablecoins (crypto assets designed to maintain price stability), which are often used for payments and settlement in digital markets.