Finastra and Bakkt announce plans to enable crypto trading for community banks and credit unions

By Taylor Griffin · 13 October 2021

Finastra and Bakkt today announced plans to make Bakkt’s digital marketplace and wallet available through Finastra’s open developer platform and app store, FusionFabric.cloud. Through the partnership, Bakkt, the trusted platform that enables consumers to buy, sell, store and spend a range of digital assets, including bitcoin, will be available to customers of community banks and credit unions, as part of Finastra’s Fusion Digital Banking solution. The app, which will soon be available, will enable financial institutions to offer their account holders access to the growing crypto market without having to leave their existing, trusted banking environment. “Joining FusionFabric.cloud and the FusionStore marketplace will allow us to quickly and seamlessly introduce Finastra’s banking clients to cryptocurrency choices, in order to meet rising consumer demand,” said Sheela Zemlin, Chief Revenue Officer at Bakkt. “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.” “Finastra’s clients are constantly seeking new and innovative experiences to drive engagement with their end consumers,” said Philip Taliaferro, Head of Fintech Ecosystem at Finastra. “Bakkt’s robust digital marketplace meets those demands by seamlessly integrating crypto, cash management, money transfer and wallet capabilities into Finastra’s FusionFabric.cloud platform and marketplace. Its modern user experience and API-enabled platform make Bakkt an attractive solution for financial institutions seeking an intuitive, tightly-integrated, low risk solution to offer crypto services.” As the marketplace for digital assets continues to grow and evolve, Bakkt is empowering and strengthening a growing partner network to tap into the new opportunities for customer engagement and choice. Bakkt aims to help banks and merchants facilitate new customer experiences by leveraging digital platform solutions that deliver a frictionless customer journey while also providing access to new products and features.