Sullivan Bank joins forces with Bakkt to offer crypto services for customers

Sullivan Bank is working with Bakkt Holdings to leverage the latter's Crypto Connect to soon enable the bank's customers to buy, sell and hold bitcoin and Ethereum.

Mallory Farrell, Chief Operating Officer of Sullivan, said Bakkt's platform will facilitate the new capability within Sullivan's existing banking platform.

"Customers will be able to view their crypto balance alongside their checking and savings balance all in the same place," Farrell said.

Mark Elliot, Head of Marketing & Sales of Bakkt, said the company will provide the "full strength" of its platform, including compliance, tax reporting, educational resources and customer care, to make the experience seamless for the bank and its customers.