Market Analysis Report (26 Aug 2022)

Bakkt Holdings, which provides digital asset management services, announced it has partnered with 127-year-old Sullivan Bank. The partnership will see Sullivan Bank leverage Bakkt® Crypto Connect to allow its customers to buy, sell, and hold Bitcoin and Ethereum.

Sullivan Bank was founded in 1895. This partnership with Bakkt falls in line with its mission to bring new opportunities to their SulliFam and better serve their needs and 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. 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,” said Mark Elliot, Head of Marketing & Sales at Bakkt.

“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,” added Mallory Farrell, Chief Operating Officer at Sullivan Bank. “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.”