The popular digital asset platform, Bakkt Holdings, announced that American Bank has selected the Bakkt crypto connect solution to allow their bank customers to trade the two largest cryptocurrencies by market capitalization, bitcoin and Ethereum.
Sheela Zemlin, Chief Revenue Officer, Bakkt noted that although saving and investing habits of customers change constantly, but of late there has been a growing interest in cryptocurrency in the minds of customers.
She further added that the research has indicated that consumers prefer accessing crypto from their existing bank. Thus, this partnership will provide customers a simple on-ramp to cryptocurrency within their trusted bank relationship.
Reports suggest that as interest in cryptocurrency investment increases, American Bank will leverage Bakkt’s educational materials and offer cost-effective access to cryptocurrency.
Mark Jaindl, President and CEO at American Bank said, “Bakkt’s robust capabilities create an entry point for us to drive engagement with our customers and seamlessly integrate cryptocurrency into our existing digital banking platform. We’re proud to say that we’ll be the first bank headquartered in the Lehigh Valley to offer access to crypto trading.”
The Bakkt crypto connect solution is expected to launch in the second quarter of 2022.
Bakkt has had previous partnerships to bring banking closer to crypto services. In October, MasterCard announced the partnership with Bakkt to offer merchants, fintech and banks in the US crypto services and solutions.