Mutual Bank in New Jersey to Give Customers the Ability to Buy, Sell and Hold Cryptocurrency – Finance Bitcoin News

Manasquan Bank, a mutual community bank in New Jersey serving residents since 1874, has announced it is partnering with the company Bakkt to give its retail clients the ability to buy, sell and hold cryptocurrency through the bank’s mobile banking application.

Manasquan Bank will give customers access to crypto

Wall Township’s mutual bank will allow customers to purchase, hold, and sell cryptocurrencies. Manasquan Bank, announced the decision Tuesday through a press release issued by Bakkt Holdings, Inc. New Jersey’s bank is able to offer personal and corporate banking services. There are fifteen different branches across Middlesex County, Monmouth and Ocean Counties.

Bakkt’s partnership with Manasquan Bank is part of the company’s early adopter program. The program will begin in the second quarter of 2022 and is still contingent on the “adoption by the bank’s core financial service provider.” James Vaccaro, the chair, president, and chief executive officer of Manasquan Bank explained that the bank is focused on pioneering the future.

“We’re focused on driving growth and introducing new opportunities for our clients to participate in the digital economy,” Vaccaro said in a statement. “Our developing partnership with Bakkt to introduce these new offerings and features comes at an exciting time when consumers continue to seek out crypto assets as an option for the acquisition of a portfolio of cryptocurrencies even if it is in very small increments to start, and without having to leave their existing, trusted banking environment.”

Bakkt Executive: Program ‘Provides Manasquan Bank Clients Entry Point to Adopt Cryptocurrency as an Additional Asset Option’

Bakkt is making many moves towards the 2021 end and just went public following a SPAC merger. Bakkt also collaborated with Google in the week before the public listing. Bakkt last month revealed that it was going to offer ethereum (ETH), services. “This is an incredible opportunity to provide Manasquan Bank clients with an entry point to adopt cryptocurrency as an additional asset option,” Sheela Zemlin, the chief revenue officer at Bakkt remarked about the partnership with Manasquan Bank.

Bakkt’s executive said:

It’s clear that cryptocurrency is the center of the Web3 economy, in which consumers can participate in new value creation and exchange with digital assets.

This story contains tags
adopt cryptocurrency, Bakkt, Bank, Banking, banking application, banks, Crypto, Cryptocurrency, custody, James Vaccaro, Manasquan Bank, Middlesex, Monmouth, Mutual Bank, New Jersey, New Jersey Bank, Ocean County, Sheela Zemlin, US Bank

What do you think about Manasquan Bank joining Bakkt’s early adopter program and its plans to allow customers access to cryptocurrencies in 2022? Please comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman is the News Lead for News. He also lives in Florida and works as a journalist covering financial technology. Redman is an active participant in the cryptocurrency community from 2011. Redman is passionate about Bitcoin and open-source codes. Redman is a prolific writer for News, with over 4,900 articles about disruptive protocols.

Image creditShutterstock. Pixabay. Wiki Commons

DisclaimerThis information is provided for educational purposes only. This article is not intended to be a solicitation or offer to sell or buy any product, service, or company. doesn’t offer investment, tax or legal advice. The author and the company are not responsible for any loss or damage caused by the content or use of any goods, services, or information mentioned in the article.

Get more Crypto News at CFX Magazine