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Mutual Bank in New Jersey to give customers the ability to buy, sell, and hold cryptocurrencies – Finance

Manasquan Bank, a New Jersey mutual bank that has served residents since 1874, has announced that it will partner with Bakkt to enable its retail customers to buy, sell, and use cryptocurrencies through the bank’s mobile banking application to keep.

Manasquan Bank grants customers access to crypto

A mutual bank based in Wall Township, New Jersey, will enable bank customers to buy, sell and hold cryptocurrencies. Manasquan Bank announced that decision on Tuesday in a. known Press release issued by Bakkt Holdings, Inc. (NYSE: BKKT). The New Jersey bank provides private and commercial banking services and operates fifteen separate branches in Middlesex, Monmouth and Ocean Counties.

Bakkt’s partnership with Manasquan Bank is part of the company’s early adopter program. The program will start in the second quarter of 2022 and is still subject to the “takeover by the bank’s core financial service provider”. James Vaccaro, Chairman, President and Chief Executive Officer of Manasquan Bank said the bank is focused on pioneering the future.

“We are focused on driving growth and providing our customers with new ways to participate in the digital economy,” Vaccaro said in a statement. “Our development partnership with Bakkt to introduce these new offerings and features comes at an exciting time when consumers continue to look for crypto assets as an option to purchase a portfolio of cryptocurrencies, even if it does so in very small increments and without at first.” having to leave the existing, trustworthy banking environment. “

Bakkt Executive: Program ‘Provides Manasquan Bank Customers An Entry Point To Adopt Cryptocurrency As An Additional Investment Option’

Bakkt took a number of moves towards the end of 2021 and recently went public after a year SPAC merger Mid October. Bakkt too in partnership on Google in the week before the public entry. Last month, Bakkt revealed the company planned to launch Ethereum (ETH) Services. “This is an incredible opportunity to provide Manasquan Bank customers with an entry point to adopt cryptocurrency as an additional investment option,” said Sheela Zemlin, Chief Revenue Officer at Bakkt, of the partnership with Manasquan Bank.

The Bakkt manager added:

It is clear that cryptocurrency is the center of the Web3 economy, where consumers can participate in new value creation and exchange with digital assets.

What do you think of Manasquan Bank joining Bakkt’s early adopter program and its plans to give customers access to cryptocurrencies in 2022? Let us know what you think on this matter in the comments below.

Jamie Redman

Jamie Redman is the News Lead at News and a Florida-based financial tech journalist. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for bitcoin, open source code and decentralized applications. As of September 2015, Redman has written more than 4,900 articles for News on the disruptive protocols emerging today.

Photo credits: Shutterstock, Pixabay, Wiki Commons

Source: Crypto News Austria

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