Valliance Bank has chosen Bakkt Holdings, Inc, a digital asset business, to provide cryptocurrencies to its customer base. Valliance Bank has announced that its customers will have access to Bitcoin and Ethereum via the bank’s mobile app, according to Bakkt, reports Financemagnates.com. Through the secure, reliable, and regulated Bakkt® crypto connect solution, Vallance Bank makes crypto exchange access quick and understandable within the digital banking environment.
Valliance Bank has $580 million in assets and five branch locations in Texas and Oklahoma and its virtual bank V. BANK.
Sheela Zemlin, the Chief Revenue Officer at Bakkt, said: “We’re excited to partner with Valliance Bank and to bring crypto experiences fit for the needs of their clients. Crypto has reached the masses, but many are still on the sidelines unsure how to get started and looking for a convenient entry point from a relationship they already trust.”
“Our core banking platform provider recommended Bakkt,” said Alicia Wade, President and COO of Valliance Bank.
She further added that they are unlocking the door to a new, dynamic possibility to give modern and regulated financial solutions to their clients who are becoming more interested in cryptocurrencies by collaborating with Bakkt. Each week, a growing number of their clients indicate that they are prepared to start investing in cryptocurrency. They are looking forward to collaborating with Bakkt to develop and expand their offerings beyond typical bank accounts. Bakkt crypto connects a simple-to-use service that integrates seamlessly with their existing mobile banking software, allowing customers to purchase, sell, and retain crypto in one location.
Increasing The Accessibility Of The Cryptocurrency Market
Bakkt, which secured $300 million in a Series B fundraising round in March of last year, has developed a digital asset platform that allows banks to connect and play a cryptocurrency buy/sell/hold mechanism, giving users access to a wide variety of crypto assets.
Mastercard, the world’s largest payment company, collaborated with Bakkt in October of last year to make cryptocurrency services and solutions more accessible to its merchants, banks, and Fintech customers in the United States. Based in New Jersey, Manasquan Bank chose Bakkt to give its retail consumers access to cryptocurrency in December of last year.
Bakkt connects institutional investors to the world of digital assets with a platform that lowers the barriers to entry by providing a regulated, safe, and trusted solution in which banks and other financial institutions entrust Bakkt with transaction and custody obligations.