Valliance Bank taps Bakkt Holdings to offer retail crypto services.
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Valliance Bank has selected Intercontinental Exchange’s subsidiary Bakkt Holdings, Inc, a digital assets company, as it looks to offer its retail customers access to cryptocurrency. Bakkt announced that Valliance Bank would provide its bank customers with access to Bitcoin and Ethereum through the bank’s mobile app. Valliance Bank will make cryptocurrency access simple and approachable within the digital banking environment through the secure, trusted, and regulated Bakkt crypto connect solution.
Valliance Bank has assets that total over $580 million.
Valliance Bank has assets that total over $580 million, with five branch locations in Texas and Oklahoma and its virtual bank V. BANK. Sheela Zemlin, the Chief Revenue Officer at Bakkt, said: “We’re excited to partner with Valliance Bank and to bring crypto experiences fit for the needs of their clients. Crypto has reached the masses, but many are still on the sidelines, unsure how to get started and looking for a convenient entry point from a relationship they already trust.”
Bakkt raised $300 million in a Series B funding round in March last year.
Bakkt, which raised $300 million in a Series B funding round in March last year, has built a cryptocurrency platform that enables banks to plug and play a cryptocurrency buy/sell/hold module, which gives users access to multiple crypto assets. In October last year, Mastercard, a payment giant, partnered with Bakkt to make it easier for its merchant, bank, and fintech customers in the US to provide cryptocurrency solutions and services. In December last year, New Jersey-based Manasquan Bank selected Bakkt to provide its bank’s retail clients access to crypto coins.
Cryptocurrency
