Manasquan Bank to participate in Bakkt Holdings early adoption program scheduled for Q2 2022
Bakkt Holdings revealed in a press release Tuesday that it has entered into a new partnership, this time with New Jersey’s Manasquan Bank. The community mutual bank is reportedly participating in Bakkt’s early adoption program scheduled for the start of the second quarter of next year. Once the program was up and running, the bank’s retail customers would then be allowed to buy, hold and sell Bitcoin and other altcoins.
Crypto services are expected to be available through the bank’s mobile app. Sheela Zemlin, Bakkt’s Chief Revenue Officer, hailed the initiative as an initiative that would provide the bank’s clients with an incredible opportunity to enter the world of crypto assets. She added that this was all the more important given that cryptography is an essential component of the Web3 ecosystem and therefore, as an asset, would offer value creation.
“Bakkt is proud to deploy new and innovative ways for this booming economy, enabling the buying, selling and holding of cryptocurrencies as part of the consumer’s relationship with their trusted local bank. ” she noted.
James Vaccaro, president and chairman of the bank, said the partnership is in line with the banks’ ambition to provide opportunities for customers. Vaccaro specifically singled out those who wish to participate in the digital economy. He added that consumers would be able to explore crypto as an asset option without having to venture out of their trusted banking environment.
“We are focused on growing and introducing new opportunities for our clients to participate in the digital economy”, Vaccaro said in a statement.
