Manasquan Bank, which has been in New Jersey since 1874, announced that it has partnered with Bakkt company to give its customers the ability to buy, sell and hold cryptocurrency through the bank’s mobile banking app. Here are the details.
The community bank, headquartered in New Jersey, will provide crypto services to its customers. Manasquan Bank announced this decision in a press release released by Bakkt Holdings on Tuesday.
With total consolidated assets of $2.7 billion, Manasquan Bank is a well-established bank that provides personal and commercial banking services and has fifteen branches in Middlesex, Monmouth, Ocean County. James Vaccaro, president and CEO of the New Jersey bank, spoke about the partnership and explained that the bank is focused on leading the future.
“We are focused on driving growth and providing new opportunities for our customers to participate in the digital economy.”
In addition to these, Bakkt also took remarkable crypto steps towards the end of 2021 and continues to take it as you can see. The company recently went public. Bakkt also partnered with Google a week before it went public. Last month, Bakkt announced that the company plans to offer Ethereum (ETH) services. Sheela Zemlin, Bakkt’s chief revenue officer, said about the partnership with Manasquan Bank:
“This is an incredible opportunity to provide Manasquan Bank customers with an entry point to adopt cryptocurrency as an additional asset option.”