Valliance Bank Selects Bakkt to Provide Clients Access to Crypto-Assets

Bakkt Holdings, Inc. (NYSE: BKKT), a digital asset platform that enables clients to purchase, sell, send and spend a range of virtual currencies, has announced that Valliance Bank, a provider of various financial solutions, will provide clients access to Bitcoin (BTC) and Ethereum (ETH) via the bank’s mobile app.

Valliance Bank will make digital currency access simple within the digital banking environment via the secure, “trusted” and regulated Bakkt crypto connect solution.

Bakkt’s platform aims to lower entry barriers, enabling 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.”

Sheela Zemlin, CRO at Bakkt, stated:

“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.”

Alicia Wade, President and COO of Valliance Bank, remarked:

“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. 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 more than $580 million with five locations between Oklahoma and Texas in addition to its digital bank V.BANK. Valliance Bank participation is “conditioned on the successful integration with the bank’s core processor.”

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