Bakkt Holdings Partners With Manasquan Bank To Offer Crypto Services

Bakkt Holdings partners with Manasquan Bank to offer its clients crypto services as we can see more today in our latest cryptocurrency news.

The New-Jersey-based Manasquan Bank will take part in Bakkt Holdings’ early adopted program and when effective, it will enable the customers of the institution to buy, sell and hold crypto. According to the press release, Bakkt Holdings partnered with the bank and its project is anticipated to launch in the second quarter of 2022 and the platform will provide an entry point to adopt crypto to retail clients of the Manasquan Bank. The early adopter program got effective, the users will be able to purchase, sell and hold BTC as well as other coins via the bank’s mobile app.

Sheela Zemlin, the Chief Revenue Officer at Bakkt said the oppotunity which her firm provides to the bank customers is incredible. The predicted the crypto will be the center of the Web3 economy where people can take part in the new value creation and exchange digital assets. The executive concluded:

“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.”

James Vaccaro as the President and CEO of Manasquan Bank said his company is mainly focused on driving growth and introducing new features to the clients that they can join the digital financial world. He stated that the collaboration with Bakkt came at the right time when the customers were looking for other ways to enter the crypto. Bakkt Holdings is among the leading platforms, the company joined the likes of Coinbase and the shares listed on the New York Stock Exchange and started trading under the ticker symbols BKKT and BKKT WS.

At the start of October, Bakkt expanded the crypto payment options by collaborating with Google. This initiative enabled the users to add their Bakkt Visa Debit Card and to make transactions via other apps wherever Google Pay is accepted. The crypto company will use Google Cloud as the preferred cloud provider to market services to leading US merchants and retailers. Bakkt also collaborated with Mastercard with plans to integrate digital assets into its products and tapped Bakkt to do the same. The crypto provider partnered with Fiserv with the same idea as the previous one. The news had a huge impact on Bakkt’s stock prices and surged from $11.5 to the high of $42.5 and represented a 270% increase in one trading day.