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650 US banks to offer crypto purchases to 24 million customers through NYDIG and NCRCryptos |
7/1/2021 2:31:45 AM GMT
A new initiative has been created due to strong demand from NCR banking clients whose customers have been buying crypto from exchanges.
NYDIG and NCR will enable 650 banks and credit unions to make Bitcoin purchases available to their customers.
The new partnership could reach 24 million customers through the banks that NCR services.
Digital asset management firm New York Digital Investment Group (NYDIG) and NCR Corporation are making cryptocurrency purchases available to 650 banks and credit unions in the United States.
Banks witness biggest outflows from existing accounts to exchanges
Payment Giant NCR Joins Hand with NYDIG to Bring Bitcoin Purchases to 650 US Banks
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U.S. financial services firm Citi considers offering Bitcoin services following a flood of interest from its clients. The firm is one of many banks that has warmed to cryptocurrency in recent times.
Although Citi has only signaled an interest at this time, a new custody initiative backed by Fidelity could soon see hundreds of U.S. banks offering Bitcoin services. And rather significantly from an adoption standpoint, not just for institutional players or high net worth individuals.
Citi Ready For A Bitcoin Explosion
Citi’s Global Head of Foreign Exchange, Itay Tuchman, said the company is thinking about entering the Bitcoin market. Despite the less than sound reputation of crypto, mounting interest in Bitcoin from asset managers and hedge funds has forced Citi into considering the move.