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NYDIG, NCR to Bring Crypto Purchases to 650 Banks: Report
The initiative is in response to demand from NCR banking clients whose customers have been buying crypto through outside exchanges.
A partnership between digital asset management firm NYDIG and NCR will make crypto purchases available to 650 banks and credit unions.
STORY CONTINUES BELOW
- The initiative is in response to demand from NCR banking clients whose customers have been buying crypto through outside exchanges, according to a Forbes report Wednesday.
- Those clients will now be able to access crypto trading through their banking apps, with NYDIG providing custody.
- The partnership could bring crypto to 24 million customers across the 650 banks that NCR services.
- “A lot of these banks have seen that one of the biggest outflows from their depositors is moving money from the bank to exchanges like Coinbase,” said Yan Zhao, co-founder of Stone Ridge, sister company of NYDIG.
- “And so that's part of why banks are so excited to have this capability for themselves and for their consumers.”
Read more: This NYDIG Partnership Could Bring Bitcoin to Your Local Credit Union
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
