Bakkt, Plaid partner to offer ‘seamless’ account linking for fiat onramps

Bakkt said it is partnering with Plaid to offer “faster, seamless” account linking for fiat onramps. “Since most retail investors keep the bulk of their cash in banks and other financial institutions, efficient fiat-to-crypto onramps between banks and crypto platforms greatly improve the user experience,” Bakkt said. “The Bakkt and Plaid layered integration allows users to easily link their bank accounts to fund crypto trading. Bakkt provides the fiat-to-crypto onramps, while Plaid takes care of the verification process needed to link end users’ bank accounts to enable transfer of fiat from their banks into their crypto wallet. Plaid also provides account linking functionality to more than 7,000 fintech apps.”