update 23 October 2021

Major American Bank and Credit Union Enable Clients to Buy Bitcoin

NAYDIG has formed two more partnerships with traditional financial firms to bring them into the digital asset ecosystem. The fintech service provider has partnered with Q2 to allow clients of two major financial companies to purchase bitcoin. The companies include Five Star Bank and UNIFY Financial Credit Union.

Banking With Bitcoin

According to a press release from BusinessWire, NAYDIG has been integrated into Q2’s digital banking platform. Q2 is a financial experience company providing banks, credit unions, and fintech companies with digital banking and lending services globally. Additionally, both Five Star Bank and UNIFY will utilize Q2’s innovation studio to give customers low-information barrier access to Bitcoin.

As usual, NAYDIG will offer secure and compliant Bitcoin custody services on the back end for the bank and credit union.

The company has secured a string of partnerships lately offering the same service to other major firms. Yesterday, a US pension plan announced the first-ever crypto-investment of its industry and was using NAYDIG to secure its holdings. Chainalysis also partnered with NAYDIG to add Bitcoin to its balance sheet earlier this week.

“The market momentum is building around bitcoin,” said Chief Investment Officer of NYDIG, Patrick Sells.  “We know that the opportunity for financial institutions is real, and that is why we’re so excited to have our first financial institution customers live on the Q2 Digital Banking Platform.”

With the custodian’s help, bank and credit union account holders can view their Bitcoin balances alongside their traditional holdings. In addition, Q2 will give them deeply integrated Bitcoin services that drive end-user engagement with the asset.

Overwhelming Demand For Crypto

Martin K. Birmingham – CEO of Five Star Bank – is aware of the same trend recognized by Sells.

“At Five Star Bank, we believe we have a fundamental responsibility to adapt quickly to meet the needs of our customers, associates, and the communities we serve. “Today’s announcement is a testament of our commitment to evolve and respond quickly to market changes.”

The demand for cryptocurrency information and exposure is palpable. NYDIG’s research has found that 20% of American adults already own Bitcoin. Among them, more than 80% would store it with their primary bank if the opportunity arose. In addition, 71% even said they would switch to a bank or credit union that supports Bitcoin.

Btc
Bitcoin
$55.592
price
1.55479%
price change
BUY NOW

That’s not all: A survey last month showed that 27% of Texans want to see cryptocurrency legalized. Furthermore, students are increasingly looking to crypto to help pay off their college debt.