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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.
Updated Sep 14, 2021, 1:18 p.m. Published Jun 30, 2021, 11:20 a.m.
A partnership between digital asset management firm NYDIG and NCR will make crypto purchases available to 650 banks and credit unions.
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- 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
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