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Manasquan Bank, a mutual community bank that has been serving New Jersey residents since 1874, announced that it will partner with Bakkt to provide its retail customers with the ability to buy, sell, and hold cryptocurrencies through the bank’s mobile banking app.
Manasquan Bank allows customers to use cryptocurrency
A common community bank headquartered in Wall Township, New Jersey will provide bank customers with the ability to buy, sell and hold cryptocurrencies. Manasquan Bank announced the decision in a statement on Tuesday. Press release By Bakkt Holdings, Inc. (NYSE code: BKKT). The Bank of New Jersey provides personal and commercial banking services and operates 15 independent branches in Middlesex, Monmouth and Ocean County.
Bakkt’s partnership with Manasquan Bank is part of the company’s early adopter program. The plan will begin in the second quarter of 2022, but it still depends on “the adoption of the bank’s core financial service providers.” James Vaccaro, Chairman, President and CEO of Manasquan Bank, explained that the bank is focused on opening up the future.
“We are focused on driving growth and providing our customers with new opportunities to participate in the digital economy,” Vaccaro said in a statement. “Our partnership with Bakkt to launch these new products and features is at an exciting time. Consumers continue to look for crypto assets as an option to purchase cryptocurrency portfolios, even if the increase is small at the beginning, and there is no need to Leave their existing, trustworthy banking environment.”
Executive Officer of Bakkt: plan to “provide an entry point for Manasquan Bank customers to adopt cryptocurrency as an additional asset option”
Bakkt has been taking some actions towards the end of 2021, and recently went public after a period of time. SPAC merger Mid-October. Bakkt also cooperating Contact Google one week before the public listing. Last month, Bakkt disclose The company plans to provide Ethereum (Ethereum) Serve. Bakkt’s Chief Revenue Officer Sheela Zemlin said of the partnership with Manasquan Bank: “This is a rare opportunity to provide Manasquan Bank’s customers with an entry point to adopt cryptocurrency as an additional asset option. “
Bakkt executives added:
Obviously, 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 plan to allow customers to use cryptocurrency in 2022? Please tell us your thoughts on this topic in the comments section below.
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