NCR, NYDIG, First Citizens Bank and Bay Federal Credit Union signed an agreement that will allow 650 US banks to offer bitcoin purchases to approximately 24 million users through mobile applications.

This is how the largest business payments organization, NCR and the digital asset management firm NYDIG, join forces to capitalize, on the one hand, the demand it is seeing in banks and, on the other hand, the cryptocurrency purchase made from clients accounts to external exchanges.

For the president of digital banking of NRC, Douglas Brown, this partnership will improve their financial relationships. “We strongly believe in the benefits of the crypto ecosystem and strategic application. This agreement will benefit our banking relationships, as demonstrated by NYDIG, all retailers, restaurants and the like.”

Banks will not have to contend with the expensive regulatory requirements inherent in owning cryptocurrency for their clients, because those who decide to make the service available will depend on NYDIG’s custodial services and will be able to offer their clients cryptocurrency trading.

In a first phase of this alliance, clients will be able to buy, sell and exchange bitcoins and other cryptocurrencies from their mobile application and they estimate that once they can obtain them and eventually spend them within their existing accounts, “the rest of the traditional financial institutions would begin to be part of the “direct competition with exchanges.”

In Brown’s opinion, “Banking today means a daily activity or a couple of times a day for people, which is what we usually see. Cryptocurrencies, on the other hand, reach a much higher level of engagement, every hour, much deeper.”

M. Rodríguez

Source: cripto247.com

La entrada US banks will strengthen cryptocurrency trading services apareció primero en Bitfinance.

The US financial multinational, Morgan Stanley, becomes the first US lender to offer its client portfolio the option of accessing bitcoin funds, as the CNBC announced on Wednesday.

The decision was made after clients asked the bank for exposure to cryptocurrencies, and although Morgan Stanley did not react immediately to the demand, according to what was discussed with financial investors, access to three funds will be launched that will allow accessibility to the ownership of bitcoin.

So far it is known that the only clients who will have access to the property will be those with $ 2 million in assets under the bank’s custody, as well as investment companies in the entity with at least $ 5 million. In both cases, the minimum seniority of six years will be mandatory.

The funds to be offered are from Galaxy Digital, a crypto firm founded by Michael Novogratz, a joint effort of asset manager FS Investments and bitcoin company Nydig.

According to the report released, clients could start investing in these funds the next month.

K.Villarroel

Source: larepublica

La entrada Morgan Stanley, the first bank to offer access to bitcoin apareció primero en Bitfinance.

The largest cryptocurrency in the world, bitcoin, reached a historical maximum of more than 4 %, reaching $ 54,000, a figure that places the currency over 5 % of its historical maximum marked on February 21, about $ 57,355.

Since the first of January this year, bitcoin has gained 86 % and increased institutional participation in cryptocurrencies.

On Monday, NYDIG, a bitcoin-related financial services provider, announced the raising of $ 200 million from investors, including major investment houses such as Stone Ridge Holdings Group, Morgan Stanley, New York Life, MassMutual and Soros.

For his part, Fund Management Edward Moya, senior market analyst at Oanda, says: “The optimism of bitcoin and ethereum is back as more money bets continue to flow towards cryptocurrencies. Institutional interest still seems strong.”

As well as bitcoin, ethereum assumes a similar behavior. It gained 6 % this Tuesday and stands at $ 1,830, 6.5 % from its historical maximum marked last February,  which means 147 % so far this year.

K. Villarroel

Source: eleconomista

La entrada Bitcoin is 4% higher than its all-time high apareció primero en Bitfinance.