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Bakkt Partners With Finastra To Onboard Credit Unions and Community Banks To Crypto Trading

Bakkt Partners With Finastra To Onboard Credit Unions and Community Banks To Crypto Trading


Digital marketplaces have gained undeniable popularity in recent times as digital firms and individuals alike are making enormous contributions to enhance online meeting places for digital assets like Bitcoin and other cryptocurrencies.

Now, London-based financial software company Finastra, in conjunction with Bakkt, a popular intercontinental-backed crypto startup, has joined forces as they contribute their quota to increase mainstream access to digital assets.

The partners announced a new collaboration to promote digital banking services with a digital assets forum.

The partnership will see Finastra integrate the Bakkt marketplace within its platform, which in turn will allow financial institutions like community banks and credit unions to adopt it easily. 

Not only that, financial institutions will now be able to offer their customers access to leverage the cryptocurrency market within the bank’s operational system via the Finastra Fusion Digital Banking solution.

According to Bakkt Chief Revenue Officer, Sheela Zemlin, Finastra is what he called a “natural fit” for Bakkt’s ecosystem, he said,

“From its unique combination of innovative banking products to their deep customer relationships and overall digital experience Finastra was a natural fit to help expand the reach of Bakkt’s digital asset ecosystem.”

While the partners are yet to speculate on the exact date when the new app will be launched, the app will likely be rolled out anytime soon.

Commenting on the latest move as part of a new strategy to satisfy its client’s quest to meet end-user needs, Philip Taliaferro, Finastra’s head of Fintech Ecosystem, noted,

“Bakkt’s robust digital marketplace meets those demands by seamlessly integrating crypto, cash management, money transfer, and wallet capabilities into Finastra’s marketplace.

Integrating to Win

Both firms are renowned for achieving outstanding goals through partnerships.

Coinfomania recently reported that Bakkt is joining forces with popular American technology company Google to allow the exchange’s customers to use its virtual cards to pay for goods and services via Google Pay Platform

Finastra, on its part, is not new to partnerships; the tech firm was reported to partner with Ripple to enhance its payment solution where users will be able to make international payments with end-to-end tracking.

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