Community banks in the US will start operations with cryptocurrencies
About 300 community banks in the US are making an alliance with NYDYG to start, during 2022, commercial operations with the Bitcoin cryptocurrency
Some 300 community banks in the US are finalizing an alliance with NYDIG, a company of products and services based on the main digital currency, to offer Bitcoin transactions through different mobile applications. This is revealed by some recently published reports.
The information highlights that NYDIG is working together with the Association of American Banks and the Independent Community Bankers of America to start commercial operations during 2022.
This alliance is a consequence of the great demand that users are exerting on the financial sector to be able to access cryptocurrencies from “their trusted banks, instead of doing it through the use of commercial platforms and/or services operated by third parties.”
By finalizing the alliance, community banks will not have to struggle with the regulatory aspects inherent to the possession of cryptos for users, since these custody services will depend on NYDIG.
Banks migrate to the crypto ecosystem
Many financial institutions, globally, have already joined or are in the process of offering transactions with digital currencies. One of them was Vas Bank, which started these activities last August 2021, with a service designated “Crypto Banking”. Brad Scrivner, CEO of the entity, said: “We take this challenge head on and dedicate significant resources to respond to this unmet need.”
While Flushing Financial Corporation, an entity associated with Flushing Bank, recently announced that it had established an agreement with NYDIG in order to provide its users with the possibility of buying and selling Bitcoin.
In the statement he said: “As part of our ongoing digital transformation, we recognize the importance of keeping up with emerging market trends and consumer demand for alternative financial services. By using NYDIG’s innovative technology to provide seamless access through our relationship with Q2, our online banking provider, we will be able to offer our customers the ability to buy, sell and hold bitcoin.”
For his part, Harold Reynolds, CEO of BankSouth, said: “We have seen significant activity in transactions associated with cryptocurrencies from our clients’ accounts, and some investments have been quite large, so we are obviously interested.”
M. Rodríguez
Source: diariobitcoin.com
