Bakkt and Sullivan Bank partnership: to offer crypto-trading to customers

Sullivan Bank enhances customer experience, partners with Bakkt to offer Bitcoin and Ethereum trading to its customers.

Sullivan Bank was founded in 1895. It serves its community with a mission to build strong customer relationships, improve services and explore new opportunities for customers. The bank then entered into a strategic partnership agreement with the leading crypto-currency trading platform, Bakkt, owned by Intercontinental Exchange.

Bakkt Crypto Connect will allow Sullivan bank customers to buy and sell bitcoin

Sullivan announced that it will soon begin using Bakkt Crypto Connect to allow its customers to buy, sell and hold the two most popular digital currencies, Bitcoin and Ethereum.

Bakkt, on the other hand, is an ecosystem that aims to provide institutional investors with access to cryptocurrency trading and secure storage of digital assets.

The platform will have everything to manage digital assets: exchanges, cold and hot wallets, payment systems, asset storage and even deliverable Bitcoin futures.

Bakkt (NYSE:BKKT) shares were up 3.1 percent in Wednesday’s premarket trading, due to the partnership with Sullivan Bank.

Sullivan Bank customers will be able to take advantage of the full range of services provided by Bakkt, which include not only trading and holding, but also tax reporting, customer service, educational resources, the release said.

Mark Elliot, head of marketing and sales at Bakkt, assured that they will do everything possible to provide the bank’s users with a seamless experience with cryptocurrencies.

He added:
We are excited to work with Sullivan Bank to offer their customers the ability to purchase bitcoin and ether in their trusted digital banking app.”

According to Mallory Farrel, COO, the partnership was born out of a growing demand for cryptos from institutional clients. He noted that they will not only be able to buy and sell, but also store bitcoin and Ethereum in their bank accounts.

“Bakkt’s innovative platform will facilitate this new capability within our existing banking platform and customers will be able to see their crypto balance alongside their checking and savings balance, all in one place.”