The fact that the interest in cryptocurrencies continues to increase day by day has encouraged banks to offer crypto money services to their customers. In this context, many banks around the world have started to offer crypto money services to their customers, especially Bitcoin (BTC).
Finally, Pennsylvania-based US community bank “American Bank” has also agreed with Bakkt, a trusted digital asset platform for its customers to access Bitcoin and Ethereum (ETH). The cryptocurrency service, scheduled for launch in the second quarter of 2022, will enable customers to buy, sell and hold BTC and ETH.
Stating that it is constantly working to provide its customers with the best and most secure digital banking services, American Bank management said, “As more consumers show interest in purchasing cryptocurrency through our bank, American Bank will take advantage of Bakkt's offerings and provide cost-effective access to cryptocurrency. " said.
Mark Jaindl, President and CEO of American Bank, said of the deal with Bakkt:
“As one of the pioneers of online banking innovation and the longest operating online bank in the US, we are always looking for ways to improve our customers' banking experience.
Bakkt's robust capabilities provide an entry point for us to increase engagement with our customers and seamlessly integrate cryptocurrencies into our digital banking platform."
Sheela Zemlin, Bakkt’s chief revenue officer, welcomed the collaboration and stated:
"Research has indicated that consumers would prefer to access crypto from their existing bank, and we’re excited American Bank is partnering with Bakkt to provide customers a simple on-ramp to cryptocurrency is a digital asset containing cryptographic protocols that make transactions secure and immutable."
More banks are eyeing rolling out crypto services as demand soars. For instance, Goldman Sachs, a leading global investment bank, recently revealed plans to avail a “full-spectrum” of crypto investments through derivatives, physical Bitcoin, or traditional investment vehicles.