Manasquan bank in partnership with Bakkt in a press release revealed the bank will now provide customers the ability to buy, sell and trade cryptocurrencies.The move is said to help its client be a part of the digital economy.
Bank customers in Wall Township, New Jersey, will soon be able to buy, sell, and hold cryptocurrencies through their bank. A press release from Bakkt Holdings, Inc., said that Manasquan Bank had made this decision on Tuesday (NYSE: BKKT).
The New Jersey bank provides personal and business banking services. It has fifteen branches in Middlesex, Monmouth, and Ocean Counties, and each branch is run by a different person.
Bakkt to offer retail clients access to cryptocurrency
Bakkt is working with Manasquan Bank as part of its “early adopter” program. If your bank’s “core financial service provider” adopts the program, you can start taking part in it in the second quarter of 2022. James Vaccaro, the chair, president, and CEO of Manasquan Bank, said that the bank wants to be a leader in the future.
Vaccaro said in a statement that “we are focused on growing and giving our clients new ways to be part of the digital economy.” “We’re working with Bakkt to bring these new offerings and features to the market, and it’s a great time because people are still looking for ways to get into crypto assets, even if they start with small amounts and don’t want to leave their bank.”
After a SPAC merger in mid-October, Bakkt went public. It has been making a lot of changes to get ready for the end of 2021. Bakkt also worked with Google the week before it went public.
Last month, Bakkt said that the company was going to start offering ethereum (ETH) services. Sheela Zemlin, the chief revenue officer at Bakkt, said that the partnership with Manasquan Bank was a great way for customers of the bank to start using cryptocurrency as an asset.
The Bakkt CEO said: That’s right, too.
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.