Digital asset marketplace Bakkt Holdings, Inc. on Tuesday (Dec. 21) added New Jersey-based mutual community bank Manasquan Bank to its early adopter program, which will give retail clients the chance to buy, sell and hold cryptocurrency in the bank’s mobile app when it’s active next year.
Through the partnership, Manasquan Bank customers will have access to crypto through the digital banking platform.
“This is an incredible opportunity to provide Manasquan Bank clients with an entry point to adopt cryptocurrency as an additional asset option,” said Sheela Zemlin, chief revenue officer at Bakkt, in the joint announcement.
“It’s clear that cryptocurrency is the center of the Web3 economy, in which consumers can participate in new value creation and exchange with digital assets,” she said. “Bakkt is proud to roll out new and innovative ways to this burgeoning economy, enabling a path to buy, sell and hold crypto as an extension of the consumer’s relationship with their trusted local bank.”
Bakkt’s digital asset platform allows banks to easily add a crypto buy/sell/hold module, giving customers an easy way to set up and access multiple cryptocurrencies through a regulatory-first approach.
“We’re focused on driving growth and introducing new opportunities for our clients to participate in the digital economy,” said James Vaccaro, chair, president and CEO of Manasquan Bank, in the joint announcement.
“Our developing partnership with Bakkt to introduce these new offerings and features comes at an exciting time when consumers continue to seek out crypto assets as an option for the acquisition of a portfolio of cryptocurrencies, even if it is in very small increments to start, and without having to leave their existing, trusted banking environment,” he said.
Related: Bakkt, BringMeThat.com Bring Crypto to Gig Economy
Last week, Bakkt partnered with food delivery service BringMeThat.com, which brings together independent restaurants in thousands of U.S. cities to allow customers to place food orders online or in the company’s app.
Bakkt will be integrated as a payment option on BringMeThat.com and on its mobile app, allowing diners to pay with cash, points or cryptocurrency from the Bakkt app. Bakkt will also have an Earn Crypto option on the app to allow drivers to be paid in cryptocurrency.
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