The condition of the Bitcoin market at the moment is less than favorable. After trading for a $40K mark in the beginning, the flagship cryptocurrency has now gone down to the low levels of $33K. Nevertheless, many analysts and market gurus were hoping for a crash much worse and claimed that Bitcoin could go as down as $20,000. It has not stopped long-term investors from losing faith in the revival of the beacon coin after all. Meanwhile, institutional interest in Bitcoin remains intact.
One solid proof of the institutional interest in the digital assets market is the recent partnership agreement between crypto-based and fortune 500 companies. With the introduction of the new venture banks, credit unions in the United States are planning to offer Bitcoin exposure to a wide variety of fintech users on a global level.
Bank Customers would now be Able to Trade and Hold Bitcoin Directly with their Accounts
NYDIG is a financial services company focused on Bitcoin. Fiserv is a fortune 500 company based in the United States that is considered to be a fintech giant and offers services like credit card issuance, digital banking solutions, and network payment services. The latter has signed a partnership contract with the former. According to a new press release on June 23rd, the customers of the related banking units would now be able to buy, sell, and acquire Bitcoin directly from their bank accounts.
The First Foundation Bank of California has already started to implement the new technology for a mainstream launch. The new partnership would benefit over a million users in the United States and more users present in different parts of the world. The partnership is also deliberating upon a new program that would allow the account holders to qualify for crypto-based gifts and bonuses.
NYDIG CEO Claims that the New Partnership is a Way for the Crypto Space to Leap Forward
The CEO of the NYDIG enterprise Robert Gutmann recently told media that the new partnership with the fintech organization would allow the crypto markets to make a giant leap forward. He further added that this step would assist Bitcoin in becoming a part of more business enterprises of all sizes.
He also claimed that any financial entity would be able to meet the growing interest and demand from their customers for crypto exposure in this manner. Fidelity National Information Inc. (FIS) is a payment services facilitator in the region. Last Month NYDIG, the subsidiary of Stone Ridge, signed a similar partnership contract with the FIS as well.