MADE IN CANVA
NYDIG is a financial services firm that is looking to offer Bitcoin as a solution to existing economic problems. Bitcoin is misunderstood by many who look to it as just an asset and not something much more.
What is NYDIG?
NYDIG (New York Digital Investing Group) was created by Stone Ridge, a $10 billion asset manager that is based in New York. The growing firm was in desperate need of a solution concerning traditional asset classes. Despite many attempts, it was unable to find an organization that met its needs and thus created one.
It started with a custody platform for Bitcoin that also provided other services like carrying out large transactions. NYDIG caters to organizations associated with fintech, universities, investment, and consumer Retail Banks. As many banks have only recently considered and accepted cryptocurrency as an asset class, it is important to make that process very smooth and display the full potential of Bitcoin. It also lets other companies work with it to jump in on the lending market that has unraveled. Though Crypto Exchanges have made it convenient for investors to start investing right away it does come with its own set of risks. NYDIG has tackled common security concerns as its subsidiaries hold a NY BitLicense and NY Limited Purpose Trust Charter. This regulated approach sets it apart from most firms in the crypto space while making it attractive to institutional investors.
Q2 Holdings offering Bitcoin services to Bank clients!
Q2 supports around 30% of the top US banks with a staggering 18.3 million bank customers. This partnership will enable NYDIG to directly reach bank customers via Q2. Customers are also more likely to trust banks and continue to use their services to buy Bitcoin or other cryptocurrencies. This also benefits clients looking to trade Bitcoin in a regulated environment. The reputation of cryptocurrencies has been tarnished due to many bad players in the industry and this partnership will help in displaying the value that Bitcoin can provide to people who are new to investing in cryptocurrencies. NYDIG’s experience in the industry also serves as a great starting point for many organizations that are open to accepting Bitcoin.
Fiserv collaborating with NYDIG!
Fiserv and NYDIG are working with First Foundation Bank, a California-based bank. First Foundation hopes Fiserv is a payment processing platform that serves 100 million digital banking users. It helps financial institutions, banks, and customers by transferring money without any kind of delay. As the demand for cryptocurrencies has increased, so has the demand for instant payments. This will also help banks to reach many customers that have asked for a quick way to get into cryptocurrencies. Recently, prioritizing cryptocurrencies for everyday use has become something that financial institutions have to consider.
PUBLISHED BY
DWAYNE D’CUNHA, WRITER ON MEDIUM.
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NYDIG Making Bitcoin More Accessible! was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.