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HomeCrypto NewsMarketU.S. Commercial Bank Sullivan Now Offering Bitcoin Services To Its Clients

U.S. Commercial Bank Sullivan Now Offering Bitcoin Services To Its Clients


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U.S. Commercial Bank Sullivan Bank Partners With Bakkt to Offer Crypto Services.

Sullivan Bank, a United States-based commercial bank registered under the Federal Deposit Insurance Corporation (FDIC), has partnered with cryptocurrency exchange Bakkt Holdings to offer crypto services to its customers. 

According to the announcement, the commercial bank plans to leverage Bakkt’s Crypto Connect innovation to enable its users to buy, sell, and hold cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH).

The Crypto Connect innovation allows financial institutions like Sullivan Bank to provide crypto services to customers using its tools. 

Sullivan bank was established in 1895 the bank company offers its clients both commercial and lending options, and now, through the partnership with Bakkt, its customers can engage with cryptocurrencies. 

We are pleased to work with Sullivan Bank to offer their customers the option to buy bitcoin and ether in their trusted digital banking app. To make the experience seamless for Sullivan Bank and its customers, we provide the full strength of Bakkt’s platform, including compliance, tax reporting, educational resources, and customer care,” said Mark Elliot, head of marketing and sales at Bakkt. 

Under the partnership, Sullivan Bank’s customers can view their crypto balances alongside their checking and savings balances in one place. 

The company, however, warned that cryptocurrencies are not FDIC-insured and can lose value. 

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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