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

Source:blockchainjournal.news

La entrada American Bank ties up with Bakkt to offer cryptocurrencies apareció primero en Bitfinance.

The companies Mastercard and Bakkt signed an agreement to integrate payments in cryptocurrencies, allowing the clients of the network to buy, sell and hold digital currencies in the Bakk wallet. Thus, the users of the platform have the possibility to “earn, spend and reward” in cryptocurrencies with “credit and debit cards and through loyalty programs.”

Sherri Haymond, executive vice president of digital partnerships at Mastercard, pointed out that the company wants to provide its customers with the ease of encryption services, which is why all partners, banks, merchants or fintechs, can now “buy, sell and hold cryptocurrencies through an integration with the Baktt platform already have the possibility.”

With this alliance, banks will be able to keep their clients with their respective capital and avoid migration or exchanges to cryptocurrencies. It is important to note that the integration takes place after the Bakkt platform began its listing on the New York Stock Exchange.

Overcoming gaps

The integration of crypto services and the Mastercard network could become a link to bring the crypto market closer to the traditional payments industry and thus bridge the gap between traditional and cryptocurrency payments. It could also impact the way US investors use their crypto assets and attract new customers.

Nancy Gordon, Executive Vice President of Payments and Loyalty Rewards at Bakkt, said: “As brands and merchants seek to appeal to younger consumers and their transaction preferences, these new offerings represent a unique opportunity to meet growing demand. of flexibility of cryptography, payments and rewards.”

The measure will also make it easier for merchants, and restaurants in particular, to design reward strategies where the traditional points offered to their customers for acquiring their products and services can be exchanged for crypto, minimizing barriers to entry into the digital industry.

M. Rodríguez

Source: diariobitcoin.com

La entrada Mastercard and Bakkt partner to integrate digital currencies to their payment network apareció primero en Bitfinance.