The New York Digital Investment Group (NYDIG) has announced that US banks will soon be able to buy, hold and sell bitcoin through existing accounts. In addition, NYDIG adds that it will introduce new services such as benefits that will be redeemed in bitcoin as well as a new type of bank account, which will pay dividends in bitcoin.
According to a report on CNBC, customers of some US banks will soon be able to get in touch with bitcoin through their bank accounts. NYDIG works with Fidelity National Information Services (FIS), and their cooperation is the aforementioned service which comes to fill several gaps and possibly completely change the bitcoin landscape.
Patrick Sells, Head of Banking Solutions at NYDIG, said the service would be very useful and convenient for US residents:
“What we are doing is simplifying for everyday Americans and businesses the ability to buy bitcoin from their existing bank accounts. If I use one application for all my banking operations, I can now buy, sell and own bitcoin”.
For her part, Yan Zhao, President of NYDIG, said the move would create a favourable situation for both customers and banking institutions:
“It’s not just that banks think their customers wish to have bitcoin. They say ‘we want it because we see the data”.
Recently, one of the largest US banks, Goldman Sachs, announced that it has added bitcoin to its list of asset returns in the markets. The banking giant also included the iconic cryptocurrency in its daily reports.
JP Morgan also entered the crypto field, as it revealed its plans to offer private investors an actively managed capital in cryptocurrency.
The pioneering move by NYDIG and FIS for many US banks seems very attractive. Rob Lee, head of digital banking at FIS, described the positive effect for the crypto-community:
“Most people cannot invest in things that institutional investors can invest. With bitcoin available from your bank being bought even for as little as a dollar, you have an attractive asset, available to anyone, at any value. We think this is a huge economic boost. “