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Sullivan Bank Partners with Bakkt to Offer Crypto Services for Customers
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
Bakkt Holdings (NYSE: BKKT) has partnered with Sullivan Bank to enhance customer experience by enabling customers to buy, sell, and hold cryptocurrencies like Bitcoin and Ethereum via the Bakkt® Crypto Connect platform. This collaboration aims to meet increasing consumer demand for digital assets, providing seamless integration into Sullivan Bank's existing digital banking app. Customers will have the ability to view crypto balances alongside traditional banking balances, reinforcing security and regulatory compliance.
Positive
Partnership with Sullivan Bank to offer crypto trading capabilities.
Integration of Bakkt Crypto Connect into existing banking platform.
Access to Bitcoin and Ethereum aligns with growing consumer interest.
Enhanced customer experience and convenience by viewing crypto along with traditional balances.
Negative
None.
Sullivan Bank is enhancing customer experiences via Bakkt to offer customers the opportunity to buy, sell and hold cryptocurrency
ALPHARETTA, Ga.--(BUSINESS WIRE)--
Bakkt Holdings, Inc. (NYSE: BKKT) a digital asset platform that unlocks crypto and drives loyalty to create delightful, connected experiences for a broad range of clients, today announced that Sullivan Bank has partnered with Bakkt to leverage Bakkt® Crypto Connect to soon enable Sullivan Bank customers to buy, sell and hold bitcoin and Ethereum.
“We are pleased to work with Sullivan Bank to offer their customers the option to buy bitcoin and ether in their trusted digital banking app,” said Mark Elliot, Head of Marketing & Sales, Bakkt. “To make the experience seamless for Sullivan Bank and its customers, we provide the full strength of Bakkt’s platform including compliance, tax reporting, educational resources and customer care.”
“We are excited to provide opportunities for customers to access a growing and increasingly in-demand asset class with peace of mind with regard to security and regulation,” said Mallory Farrell, Chief Operating Officer. “Bakkt’s innovative platform will facilitate this new capability within our existing banking platform and customers will be able to view their crypto balance alongside their checking and savings balance all in the same place.”
Founded in 1895, Sullivan Bank serves their communities with the mission to build strong customer relationships, improve services and explore new opportunities for customers. This partnership with Bakkt falls in line with Sullivan Bank’s mission to bring new opportunities to their SulliFam and better serve their needs and increase engagement.
Given the current landscape of increasing interest in cryptocurrency, Bakkt® Crypto Connect offers financial institutions the tools to meet consumer demand and provides crypto access to customers without leaving their banking institution.
Crypto assets are not FDIC insured products and may lose value.
About Bakkt:
Bakkt is a digital asset platform that unlocks crypto and drives loyalty to create delightful, connected experiences for a broad range of clients. Bakkt’s platform, available through the Bakkt App and to partners, amplifies consumer spending and bolsters loyalty programs, adding value for all key stakeholders within the Bakkt payments and digital assets ecosystem. Launched in 2018, Bakkt is headquartered in Alpharetta, GA. For more information, visit: https://www.bakkt.com/ | Twitter @Bakkt | LinkedIn https://www.linkedin.com/company/bakkt/
About Sullivan Bank
Sullivan Bank is a comprehensive financial institution, founded in 1895. They accredit their long and ongoing success to their Step-Up in SERVICE customer experience and their Core Values. They understand the important role that they play in their employees and customers lives and aim to create a culture that embodies loyalty and service. To do that, they have included anyone affiliated with the bank to be part of their SulliFam. Creating a family with the friendliest faces and the most competitive products, that is what a Step-Up in SERVICE is all about.
What is the partnership between Sullivan Bank and Bakkt about?
Sullivan Bank has partnered with Bakkt to enable customers to buy, sell, and hold cryptocurrencies like Bitcoin and Ethereum through their digital banking app.
When will Sullivan Bank customers access Bakkt's crypto services?
The services will soon be available, but a specific date has not been provided in the press release.
What cryptocurrencies can Sullivan Bank customers trade?
Customers will be able to buy, sell, and hold Bitcoin and Ethereum.
How does Bakkt ensure security for cryptocurrency trading?
Bakkt provides compliance, tax reporting, and customer care services to ensure a secure trading environment for users.
What is the stock symbol for Bakkt?
The stock symbol for Bakkt is BKKT, traded on the NYSE.
