American Bank embraces the adoption of cryptocurrency and digital banking as it partners with Bakkt to provide its customers with a channel to buy and sell Bitcoin and Ethereum.
American Bank Partners with Bakkt
American Bank chooses to partner with Bakkt Holdings Inc., a company that operates a technology platform enabling businesses, consumers, and institutions to unlock the value of digital assets, to utilize its connect solutions to enable their bank customers to buy, sell and hold the largest cryptocurrencies, Bitcoin and Ethereum.
American Bank, headquartered in Allentown, PA, is a locally owned community bank dedicated to serving customers in the Lehigh Valley for 25 years. American Bank offers a complete selection of deposit and loan products and convenient services to suit the needs of consumers and businesses.
The Allentown-based bank continually seeks to provide the best, most secure digital banking services to its customers who reside in all 50 states. With more customers growing interested in cryptocurrencies, the bank has chosen to leverage Bakkt’s educational materials and services to produce easy and most cost-effective access to cryptocurrency.
American Bank’s CEO, Mark Jaindl, noted that as one of the pioneers of online digital banking innovation, they constantly seek ways to improve customers’ banking experience.
He also gave a remark about their newest partner saying:
“Bakkt’s robust capabilities create an entry point for us to drive engagement with our customers and seamlessly integrate cryptocurrency into our existing digital banking platform. We’re proud to say that we’ll be the first bank headquartered in the Lehigh Valley to offer access to crypto trading.”
Mark Jaindl, CEO of American Bank.
Bakkt is a trusted digital asset platform that enables consumers to buy, sell, send and spend a range of digital assets.
“Consumer saving and investing habits ebb and flow constantly, but more than ever we’re seeing consumer intrigue and interest in cryptocurrency grow,” said Sheela Zemlin, Chief Revenue Officer, Bakkt.
He also shared that research indicates that consumers would prefer to access crypto from their existing bank and that he is excited that American Bank is partnering with them to provide customers a ‘simple on-ramp to cryptocurrency’ within their trusted bank relationship. Concerning the partnership, he said that American Bank shares the same view that banks have a short window measured in months or quarters to execute on their crypto strategies or risk being left behind.