Bakkt adds Hanover Bank to early adopter crypto program

Bakkt Holdings (NYSE:BKKT) will add Hanover Community Bank to its early adopter cryptocurrency program, which will offer customers access to bitcoin (BTC-USD) and ethereum (ETH-USD) through the bank's mobile app. Hanover Bank, with $1.5 billion in total assets, operates seven branches across Long Island and the greater New York metropolitan area. The Bakkt crypto connect solution iss anticipated to launch in Q2 2022 and Hanover Bank’s participation is conditioned on the successful integration with the bank’s core processor, the company said. Furthermore, “we’re seeing the increased momentum of cryptocurrency interest and adoption among a large cross-section of the consumer population," said Bakkt Chief Revenue Officer Sheela Zemlin. "Bakkt’s partners like Hanover Bank are intent on lowering the barrier to entry for their clients to enjoy this new asset class.” Meanwhile, shares of BKKT gain nearly 4% out of the gate, as bitcoin (BTC-USD +2.8%) climbs toward $40K per token. Previously, (Jan. 19) Bakkt partnered with Nexo