Valliance Bank, a financial institute based in Oklahoma City, has partnered with Bakkt to offer its clients access to bitcoin (EXANTE: Bitcoin) and ether (ETH). According to a press release, all the crypto will be stored at Bakkt and the service is anticipated to launch in Q2, 2022.
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Sheela Zemlin, Chief Revenue Officer at Bakkt, says cryptocurrencies have 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." Valliance Bank President, Alicia Wade, added that more and more of the bank's customers each week are signaling "they are ready to get started with crypto."
Valliance Bank has over $580 million of assets under management with five locations between Oklahoma and Texas. The move comes just a few weeks after Flushing Bank, a New York-based commercial bank, also announced that its parent company Flushing Financial Corporation entered into an agreement with NYDIG to offer bitcoin services to its customers. The bank aims to launch the service in Q1, 2022 with clients getting access to buy, sell, and hodl bitcoin (EXANTE: Bitcoin).
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