American Bank Looks To Offer Clients BTC And ETH Buying Options Via New Crypto Trading Offering

American Bank is a locally owned community firm based in Allentown, Pennsylvania. Most recently, the bank announced that its users will be given the option to access the top two cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), through the company&39s brand new cryptocurrency trading offering.

What to expect?

The bank has been in business for more than 25 years and it will reportedly employ the Bakkt crypto-connect solution to let its clients purchase, trade, and successfully hold the two biggest crypto assets by market capitalization. As such, the Bakkt crypto-connect solution is expected to emerge in the second quarter of 2022.

As more consumers grow interested in purchasing crypto via traditional financial institutions, American Bank plans to employ Bakkt&39s educational materials to grant cost-effective access to cryptocurrencies. It is a well-established fact by this point that a growing number of users want to be able to access crypto via their respective banks. This is exactly why American Bank is working with Bakkt to offer consumers an easy to use on-ramp to crypto via their trusted bank relationship, according to Sheela Zemlin, Bakkt&39s Chief Revenue Officer.

Crypto acceptance in the U.S is growing

Pennsylvania could follow the footsteps of others such as Texas and Wyoming who have already adopted a pro crypto approach. In 2021, a slew of large U.S banks, led by Morgan Stanley, began providing wealth management consumers exposure to cryptocurrencies. In fact, back in March, Morgan Stanley had claimed that clients with a minimum of $2 million in assets will thus be allowed to access three BTC funds. Meanwhile, various other banks which provide crypto exposure to their wealth management customers include Citigroup, JPMorgan Chase & Co, and Wells Fargo & Co.

Elsewhere, BNY Mellon announced in February of last year that it will keep, transfer, and subsequently issue BTC for asset management clients, thereby making it among the first significant Wall Street banks to take this kind of action. Texas Senator Ted Cruz and Miami own Mayor Suarez are also just a few influential people who are actively and openly backing crypto as they hope that the U.S can become a major player for many years to come in this growing industry.