NYDIG Set To Launch BTC Trading On 650 Banks across the United States

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2523

New York Digital Investment Group (NYDIG) unveiled its partnership with Atlanta-based digital payment titan NCR to develop a particular mobile application that enables US customers to purchase cryptocurrencies. As per the reports, 650 US banks have already registered to participate in the program. They believe it would spark massive outflows to crypto exchanges. NYDIG estimates that over 24 million clients could potentially be exposed to BTC and other crypto investing from the comfort of their respective bank accounts.

On top of the aforementioned BTC trading feature for its banking and credit union clientele, NCR is also purportedly delving into the possibility of activating BTC payment services for its estimated 200,000 retail clients across the United States.  On the other hand, NYDIG intends to offer its native BTC custody solution to remove any significant regulatory obstruction for financial institutions and community banks eying crypto dealings.

As per the head of bank solutions in NYDIG, Patrick Sells, customers may now expect much cheaper transaction fees on banks compared to today’s market status. However, Sells also notes that the participating banks have the final say on how high or low their transactions fees would be. NCR President Douglas Brown, meanwhile, expects that the crypto space would ask for more time to adjust on behalf of the bank clients that are not yet well-accustomed to the industry.

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