American Bank now offers Bitcoin and Ethereum Trading.
One of America’s top banks, American Bank has partnered with Bakkt, a leading crypto trading platform to bring crypto trading to its customers. The partnership will give the bank’s customers the ability to buy, sell and hold Bitcoin and Ethereum, the top two cryptocurrencies.
The bank will use Bakkt’s crypto connect solution, a service expected to launch in Q2 2022 to make this possible as the interest in crypto is experiencing a steady rise.
“Consumer saving and investing habits ebb and flow constantly, but more than ever we’re seeing consumer intrigue and interest in cryptocurrency grow, we’re excited American Bank is partnering with Bakkt to provide customers a simple on-ramp to cryptocurrency within their trusted bank relationship. American Bank shares our view that banks have a short window measured in months or quarters to execute on their crypto strategies or risk being left behind” said Sheela Zemlin, Chief Revenue Officer, Bakkt.
Mark Jaindl, President and CEO at American Bank said:
“As one of the pioneers in online banking innovation and, as the longest operating ‘online bank’ in the country, we are always looking for ways to enhance our customers’ banking experience, 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.”
Customers like to access crypto from their existing bank
There is a general interest in cryptocurrencies recently and research has shown that customers like to access digital assets from their existing banks. According to Zemlin, this is why American Bank is very excited to offer its customers this option to trade the top two cryptocurrencies by market cap.
Notably, the bank has historically worked towards providing its customers spread over 50 states with the best crypto exposures. Bakkt’s platform which includes educational materials is considered the best option for achieving this goal and will be giving its customers crypto access at the minimum possible cost.
Bakkt leading the way in crypto adoption
Bakkt is a digital asset platform that has grown to be a credible force in the crypto space. By adding value to all stakeholders in its payments and digital asset ecosystem, the company has been championing the push for wider adoption of cryptocurrencies, especially Bitcoin.
It is the credibility of the company that is attracting mainstream financial institutions like American Bank to it. More such banks may be coming on board soon or are likely to get left behind in the crypto revolution.
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