Bakkt Holdings, Inc. (NYSE: BKKT), a trusted digital asset platform that enables consumers to buy, sell, send and spend a range of digital assets, today announced that Valliance Bank, a leading provider of tailored financial solutions, will offer bank customers 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.
Bakkt’s flexible platform lowers the barriers to entry allowing banks and other partners to entrust Bakkt with custody and transaction responsibilities. Several participating banks have joined the Bakkt crypto connect solution, which is anticipated to launch in Q2 2022.
“We’re excited to partner with Valliance Bank and to bring crypto experiences fit for the needs of their clients,” said Sheela Zemlin, Chief Revenue Officer, Bakkt. “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.”
“Our core banking platform provider recommended Bakkt. By partnering with Bakkt, we’re opening the door to a new, dynamic opportunity to provide modern and compliant financial solutions to our clients who have a growing interest in cryptocurrency,” said Alicia Wade, President and COO of Valliance Bank. “More and more of our clients each week are signaling they’re ready to get started with crypto. We’re excited to partner with Bakkt as we innovate and broaden our offering beyond the traditional deposit accounts. Bakkt crypto connect is an easy-to-get-started solution which plugs right into our existing mobile banking app, allowing our clients to buy, sell and hold crypto in one seamless experience.”
Valliance Bank has assets totaling over $580 million with five locations between Oklahoma and Texas in addition to its virtual bank V.BANK. Valliance Bank participation is conditioned on the successful integration with the bank’s core processor.
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