Valliance Bank’s crypto services will be expanded as a result of the agreement. The Bakkt crypto connect solution has attracted a large number of banks.
Valliance Bank has chosen Bakkt Holdings, Inc, a digital asset firm, to provide cryptocurrencies to its retail customers. Valliance Bank has announced that its customers will have access to Bitcoin and Ethereum via the bank’s mobile app, according to Bakkt. Through the secure, reliable, and regulated Bakkt® crypto connect solution, Valliance Bank will make cryptocurrency access simple and approachable within the digital banking environment.
Valliance Bank has $580 million in assets and five branch locations in Texas and Oklahoma, as well as its virtual bank V. BANK.
“We’re pleased to partner with Valliance Bank and deliver crypto experiences tailored to their clients’ needs,” said Sheela Zemlin, Bakkt’s Chief Revenue Officer. Crypto has reached the mainstream, but many people are still on the fence, unclear how to get started and searching for a simple entry point from a trusted source.”
“Our main banking platform supplier recommended Bakkt,” said Alicia Wade, President, and COO of Valliance Bank. We’re opening the door to a new, dynamic possibility to give modern and regulated financial solutions to our clients who are becoming more interested in cryptocurrencies by working with Bakkt.
Each week, a growing number of our clients indicate that they are ready to begin investing in cryptocurrency. We’re looking forward to collaborating with Bakkt as we continue to develop and expand our offerings beyond typical bank accounts.
Bakkt crypto connect is a simple-to-use service that integrates seamlessly with our existing mobile banking software, allowing our customers to purchase, sell, and keep crypto in one place.”
Increasing the accessibility of the cryptocurrency market
Bakkt, which raised $300 million in a Series B fundraising round in March of last year, has developed a digital asset platform that allows banks to plug and play a cryptocurrency buy/sell/hold module, giving users access to a variety of crypto assets.
Mastercard, the world’s largest payment company, teamed with Bakkt in October of last year to make cryptocurrency solutions and services more accessible to its merchant, bank, and fintech customers in the United States. Manasquan Bank, situated in New Jersey, 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.