Sullivan Bank in Sullivan, Mo., will let customers buy, sell and hold bitcoin and Ethereum through a partnership with Bakkt Holdings.
Bakkt said in a press release that the $836 million-asset Sullivan decided to offer the service to better serve customers’ needs and to increase engagement.
“We are pleased to work with Sullivan Bank to offer their customers the option to buy bitcoin and ether in their trusted digital banking app,” Mark Elliot, Bakkt’s head of marketing and sales, said in the release.
“To make the experience seamless for Sullivan Bank and its customers, we provide the full strength of Bakkt’s platform including compliance, tax reporting, educational resources and customer care,” Elliot added.
“We are excited to provide opportunities for customers to access a growing and increasingly in-demand asset class with peace of mind with regard to security and regulation,” said Mallory Farrell, Sullivan’s chief operating officer.
“Bakkt’s innovative platform will facilitate this new capability within our existing banking platform and customers will be able to view their crypto balance alongside their checking and savings balance all in the same place,” Farrell added.