US payment giant NCR and digital asset management company NYDIG have teamed up to enable around 24 million customers of 650 US banks to buy and sell Bitcoin (BTC) through online exchanges.

NYDIG and NCR Team Up to Bring Bitcoin to 650 Banks

The latest development and partnership from NYDIG and NCR could significantly increase the cryptocurrency exposure of clients from many community banks like First Citizens Bank, based in North Carolina, and credit unions like Bay Federal Credit Union in California, which aim to tap into currently unexplored customer groups Remain cautious when exchanging cryptocurrencies.

For the participating banks and credit unions, this partnership offers the opportunity to reach customers who increasingly want to diversify their asset portfolio with cryptocurrencies.

Douglas Brown, President of Digital Banking at NCR, told Forbes, “We strongly believe in the benefits of cryptocurrency and its strategic application. “And that goes for our banking relationships, as NYDIG shows, as well as between retailers and restaurants and the like.”

Yan Zhao, President of NYDIG, commented that “many of these banks have found that one of the largest inflows from their depositors is wire transfers to exchanges like Coinbase.” That’s one of the reasons “Banks are so excited to have this ability for themselves and their customers,” said Zhao.

NYDIG and NCR work together to bring Bitcoin to 650 banks – specific plan high

According to the report, the first phase of the partnership will allow NCR’s bank customers to buy, sell and trade BTC and other cryptocurrencies through their mobile app while the assets are owned by NYDIG surveillance.

Eventually, in phase two, the NCR could keep its own assets.

Brown says banks are experiencing what PayPal has done – in the months after it allowed its customers to buy and spend Bitcoin, the percentage of customers accessing the app increased by 100%, which opened up the possibility of sell them other products.

He added that they “have further ambitions to do a variety of things with crypto that will expand to our multi-market verticals, retailers and restaurants.”

Learn more about NYDIG and NCR

As reported, NYDIG and Q2 Holdings, a provider of digital transformation solutions in banking and credit, announced last week that they will be joining forces to bring more than 18.3 million registered users to the Q2 platform Sell ​​and hold BTC. Q2’s digital banking platform now supports nearly 30% of the top 100 banks in the United States.

Atlanta-based NCR is a leading provider of software and services to the financial, retail, and hospitality industries. Founded in 1884, the company employs more than 34,000 people in 160 countries worldwide and offers its solutions to customers in 141 countries.

The company just announced that through an integration between NYDIG and the solution provider, payment technology and financial services Fiserv, financial institutions of all sizes will enable consumers to buy, sell and hold Bitcoin through their bank accounts. The two are also working on implementing additional features, including the ability for banks to introduce Bitcoin-based reward programs, they said.

NYDIG provides Bitcoin technology and financial services solutions to a wide variety of institutions including banks, insurance companies, corporations and institutions. The company is a subsidiary of Stone Ridge, an alternative asset manager with $ 10 billion in total assets under management.

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