New York Digital Investment Group (NYDIG) has partnered with payment giant NCR to expand Bitcoin adoption in the US.
The partnership will enable up to 650 banks to offer Bitcoin services to 24 million customers. While the NCR will provide the infrastructure for mobile apps, the NYDIG will be delivering custodial services to financial institutions that want to offer crypto services to their clients.
Banks to Compete with Crypto Exchanges
The move will put NCR’s institutional clients in direct competition with crypto exchanges, as banks and credit unions reported massive outflows of customer’s savings to make crypto purchases.
According to Douglas Brown, NCR’s president of digital banking, banks could soon follow PayPal’s success with crypto adoption and offer crypto payments for its clients worldwide. Besides, the NCR is exploring the possibility of paying its 200,000 retail clients with BTC.
We’re firm believers in the benefits of crypto and the strategic application. And that’s true for our banking relationships, as evidenced by NYDIG, and across retailers as well as restaurants and the like.
NCR president of digital banking, Douglas Brown
Despite the bearish market, NYDIG has seen massive interest from institutional clients to individual and wealthy investors who want to join the crypto space.
Just days ago, NYDIG partnered with Texas fintech firm Q2 to provide BTC exposure to Q2’s 18.3 million users, following massive client demand.
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