NYDIG Is Bringing Bitcoin Services To 100s Of American Banks In 2022


NYDIG Is Bringing Bitcoin Services To 100s Of American Banks In 2022

Numerous community banks throughout the United States are gearing up to begin offering Bitcoin and crypto trading services to their clients. Facing constant demand for new services aimed at crypto trading, over 300 banks will begin offering new services targeting Bitcoin to their clients by Q1 or Q2 of 2022 with the help of NYDIG, a subsidiary of Stone Ridge, that has already been heavily involved in supporting various crypto initiatives by traditional financial institutions.

By Andrew Senior
January 31st, 2022



Harold Reynolds, the CEO of Georgia based BankSouth said,



“We have seen significant activity in cryptocurrency transactions from our customer accounts, and a few investments have been rather large, so that is obviously getting our attention.”



Vast Bank, based in Oklahoma, has been involved in cryptocurrencies since August 25, 2021, when the bank announced the rollout of its “Crypto Banking Service.” CEO of Vast Bank, Brad Scrivner, has been pleased with the performance of the service thus far and will continue to expand their services with NYDIG.



Despite the rapidly growing level of adoption, the crypto regulatory framework in the US has remained muddled. The US government is continually looking into increasing regulations aimed at the fast-growing crypto market, with the Biden administration planning to issue an executive order regarding crypto investments.



More people would own bitcoin if they could do so through their existing banks or other traditional financial institutions, according to a survey commissioned by NYDIG. Owning Bitcoin through their current bank would allow clients to have a single view of their financial assets, avoid the need to sign up with another institution and fund the account with a money transfer that typically takes three to five business days, and avoid the need to have a separate digital wallet.



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