American Bank ties up with Bakkt to offer cryptocurrencies

American Bank decided to join forces with Bakkt Holdings to offer its customers a channel for buying and selling cryptocurrencies such as bitcoin and ethereum

American Bank decided to partner with Bakkt Holdings Inc. in order to use its connection solutions that will allow its banking users to have a channel to buy, sell and guard the most relevant cryptocurrencies in the ecosystem such as Bitcoin and Ethereum.

The financial institution, American Bank, based in Allentown, is a community bank that aims to serve customers in the Lehigh Valley with 25 years of experience offering deposit products, loans and convenient services to meet the needs of consumers and companies.

While Bakkt Holdings Inc. is an American corporation listed on the New York Stock Exchange and operates a technology platform that enables consumers, businesses, and institutions to unlock the value of digital assets.

The alliance of both companies will allow users to satisfy their needs and interests about cryptocurrencies, as well as maximize educational materials and services of institutions to produce easy and more profitable access to cryptocurrencies for customers.

“Bakkt’s strong capabilities create an entry point for us to drive engagement with our customers and seamlessly integrate cryptocurrency into our existing digital banking platform,” said Mark Jaindl, CEO of American Bank. We are proud to say that we will be the first Lehigh Valley-based bank to offer access to cryptocurrencies.”

Users will prefer cryptocurrencies

Market research reveals that consumers prefer to access different cryptocurrencies from their current or traditional bank, and it is precisely this premise that drives the financial institution American Bank to make its alliance with Bakkt with the purpose of offering “a “simple access ramp”. access to cryptocurrencies” within their trusted banking relationship.”

The financial entity also considers that banks have little time to design and develop strategies for the adoption of cryptocurrencies or risk being left behind and not evolving with market demands.

For her part, Bakkt Chief Revenue Officer Sheela Zemlin highlighted that “savings and investment habits of consumers are constantly fluctuating, but more than ever we are seeing consumer intrigue and interest in cryptocurrency grow.”

M. Rodríguez

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