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New NYDIG-NCR Team-up to Roll Out Bitcoin (BTC) Services For Banks And Credit Unions In the US

By Jenny Aurora | July 2, 2021
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New York Digital Investment Group (NYDIG) has reportedly formed an alliance with enterprise payment giant NCR from Atlanta, to make Bitcoin (BTC) offerings dedicated to US-based banks and credit unions. 

Specifically, the partnership will reportedly enable 650 banks and credit unions in America to roll out Bitcoin trading services to more than 24 million of their clients.

Aside from Bitcoin trading dedicated to its banking and credit union customers, the NCR is reportedly looking into BTC payment services, catering to its approximately 200,000 retail clients.

NYDIG will reportedly make its in-house Bitcoin custody offering available, dismissing a significant barrier, regulation-wise, for community banks and other financial establishments, having plans to conduct crypto-centric business. 

The development reportedly surfaced following a team-up among NYDIG and digital banking services provider Q2, together with international payment channel Fiserv and cloud-based electronic banking outfit Alkami, to collaboratively release Bitcoin trading to nearly 18 million customers.

As a matter of fact, NYDIG bank solutions head Patrick Sells reportedly shared in May this year that banks in America are interested in rolling out Bitcoin trading in 2021. At the time, Sells suggested that the noteworthy fund outflows to exchanges, nominally Coinbase, has left lenders in the nation no choice but to take another look at their previous anti-BTC attitude. 

Per NCR digital banking chief Douglas Brown, the firm’s banking customers send detailed reports of major outflows on a regular basis, from customer’s savings to crypto platforms. For Brown, the availability of BTC trading avenues will assist NCR and its clients in tapping into a portion of the $1.4 trillion markets.

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