NYDIG: Bitcoin is Coming to Hundreds of American Banks This Year

By Dimitar Dzhondzhorov

Crypto custody firm New York Digital Investment Group said that soon US banks would have the opportunity to buy, hold and sell BTC through their existing accounts. NYDIG also added that it would launch other services such as benefits paid in the cryptocurrency and a new type of bank account, which gives dividends in BTC.

Another Step Towards BTC Adoption

According to a CNBC report, customers of some banks in the USA will soon have the chance to operate with the first-ever cryptocurrency bitcoin via their existing accounts. NYDIG partnered with Fidelity National Information Services (FIS). The two companies reported that the main goal of the partnership would be to enable American banks to offer BTC in the near future.

Patrick Sells, head of bank solutions at NYDIG, explained that the start-up will be very useful and will bring future comfort for the American residents:

”What we’re doing is making it simple for everyday Americans and corporations to be able to buy bitcoin through their existing bank relationships. If I’m using my mobile application to do all of my banking, now I have the ability to buy, sell and hold bitcoin.”

In his turn Yan Zhao, president of NYDIG, said that the move would be a win-win situation for both customers and banking institutions:

”This is not just the banks thinking that their clients want bitcoin, they’re saying ‘We need to do this,because we see the data’. They are seeing deposits going to the Coinbases and Galaxies and Krakens of the world.”

The History Between BTC And Banks

Recently, one of the largest US banks, Goldman Sachs, announced that it added BTC to its market performance list of assets. The giant investment bank included the cryptocurrency in its year-to-date report.

As CryptoPotato reported, JP Morgan also joined the BTC bandwagon as the institution revealed plans to offer an actively managed fund to private investors in the primary cryptocurrency.

The pioneering move from NYDIG and FIS seems attractive and easily accessible by hundreds of banks in the world’s largest economy. Rob Lee, head of digital banking at FIS, described the positive outcome from the start-up to the crypto community:

”Most people can’t invest in things that institutional investors get to invest in. With bitcoin available through your bank to be purchased with as little as $1, now you have an attractive asset that’s available to be owned by anyone in any amount. We think that’s huge for economic empowerment.