Valliance Bank and Bakkt are collaborating to bring cryptocurrencies to the customers of the Oklahoma-headquartered bank.
Holdings Inc to bring digital assets payments to its customers. According to a release by Baktt, the digital assets company, the move by Valliance Bank was aimed at enabling clients of the bank to access Bitcoin and Ethereum via the bank’s app and other services.
The aim of the cooperation is to make the transition and use of cryptocurrencies within the bank’s app easy, hassle-free and simplified. Valliance also wants to take advantage of the security of the Bakkt platform to secure the assets of its customers.
More Clients Showing Interest in Cryptocurrencies
According to the president and COO of Valliance Bank, Alicia Wade, the cooperation opens the door of opportunity to the bank’s clients that are increasingly showing interest in the cryptocurrency asset class.
Bakkt provides cryptocurrency solutions to institutions such as banks. The company’s crypto connect lowers the barrier to entry for banks through its regulated but secure platform. This solution tailored for banks is scheduled to be launched in the Q2 of 2022.
Bakkt Crypto Connect for Banks
The Chief Revenue Officer of Bakkt, Sheela Zemlin said that the partnership with Valliance would provide the company with a crypto connect service that would fit the needs of the bank’s clients. He said that:
“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.”
According to Wade, the president and COO of Valliance,
“By partnering with bakkt, we are opening the door to a new dynamic opportunity to provide modern and compliant financial solutions to our clients who have a growing interest in cryptocurrencies.”
She added that the bank made the choice of Bakkt because the company was recommended by the bank’s core banking platform provider.
“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 is a banking solutions provider for businesses and executives that need customized services to meet their financial needs. The Oklahoma City-headquartered bank prides itself as a “relationship banking” services provider.