Bakkt Holdings, Inc., a digital asset platform, today announced a partnership with Sullivan Bank to use Bakkt Crypto Connect. Because of this partnership, Sullivan Bank customers will be able to buy, sell, and hold Bitcoin (BTC) and Ethereum (ETH). Also, Sullivan Bank and its customers will get access to Bakkt’s full suite of features. They include compliance and tax reporting, educational materials, and customer care for a streamlined experience.
Sullivan Bank and the relevance of Bakkt partnership
Sullivan Bank has been around for more than 120 years, and in that time they’ve worked to establish lasting bonds with their clientele. They have also refined their offerings and uncovered untapped possibilities for growth. The bank’s goal is to provide innovative options to their SulliFam platform. That will enable them to meet the evolving demands of their community and inspire more participation from its members.
Sullivan Bank’s COO, Mallory Farrell, said the agreement will provide Bakkt customers access to a popular and rapidly expanding asset class without worrying about security or regulatory issues. Customers of Sullivan Bank will soon be able to see their crypto balances alongside their traditional banking totals thanks to Bakkt’s cutting-edge platform enabling this additional functionality within the bank’s existing banking site.
For most investors, digital assets now represent a sizable portion of their wealth, making security a top priority. Mainstream financial institutions like banks inspire trust among investors by forming partnerships with enterprises dealing in crypto assets. This is especially important at a time when the global crypto market faces a double-pronged attack in form of low asset prices and hacking.
When it comes to unlocking crypto and driving loyalty, Bakkt is the digital asset platform that has everyone talking. For instance, Bakkt Crypto Connect equips financial institutions with the resources necessary to address the growing demand for cryptocurrencies in the current market. Additionally, it enables clients to use cryptocurrency without ever having to leave their financial institution.