Digital asset platform Bakkt Holdings has teamed up with Valliance, a financial services organization, to offer a seamless crypto experience to bank customers.
According press release Released on Monday, Valliance Bank will enable customers to buy, sell and hold Bitcoin, Ethereum and other digital currencies within the bank’s digital banking infrastructure via the Bakkt platform.
The Bakkt program, scheduled to launch in the second quarter of 2022, is an early solution that seeks to lower the entry barrier for new entrants to the crypto space.
Alicia Wade, president and chief operating officer of Valliance Bank told:
There is an increasing number of clients who have shown interest in cryptocurrencies.
The “Bakkt crypto connect” program will allow clients to seamlessly trade and hold digital assets.
As stated in the statement issued by the CEO of “Valliance Bank”:
By partnering with Bakkt, we are opening the door to a dynamic new opportunity to provide modern and compatible financial solutions to our customers who have a growing interest in cryptocurrency.
Sheila Zamlin, chief revenue officer at Bakkt, also commented on the latest developments by saying:
Cryptocurrencies have reached the masses, but many of them are still on the sidelines, unsure of how to get started and looking for a convenient entry point and a relationship they can actually trust.
“Valliance” is the latest financial institution to join the “Bakkt crypto connect”.
Other people looking to participate in the program include Hanover Community Bank and New Jersey-based Manasquan Bank.
In October 2021, “Bakkt Holdings” listed its shares on the New York Stock Exchange (NYSE), following in the footsteps of “Coinbase” which is the giant cryptocurrency exchange in the United States of America.
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