Finserv Inc. (NASDAQ: FISV), a global leader in payments and fintech, announced Wednesday that “Banks and credit unions of all sizes can make it easier to buy, sell and hold bitcoin on their platforms. digital banking ”. All banks can now allow customers to buy, sell and hold bitcoin through bank accounts
Finserv has nearly 10,000 financial institution customers, nearly 6 million merchant sites worldwide and 100 million digital banking users, according to details on its website. A member of the S&P 500 Index and the Fortune 500, the company claims to facilitate more than 12,000 financial transactions per second.
To activate the bitcoin option, Finserv joined the New York Digital Investment Group (NYDIG), a bitcoin technology and financial services subsidiary of Stone Ridge, a $ 10 billion alternative asset manager.
The announcement explains that “the integration with NYDIG will allow consumers to manage bitcoin transactions directly in their financial institution’s online and mobile banking portals, providing users with an easy way to buy, sell and hold money. popular digital asset through their trusted financial institutions.
Byron Vielehr, Chief Digital and Data Officer at Finserv, commented:
Interest in cryptocurrency, and in particular bitcoin, has exploded in recent years, to the point that investing in bitcoin is now a mainstream activity.
“People continue to look to financial institutions as a central place to manage their financial business, and being able to offer this capability will help position banks and credit unions at the forefront of their customers’ financial lives.” , continues the announcement.
Digital assets have captured the attention of consumers and investors. If our industry is truly committed to innovation and the financial future of our customers, we need to be at the forefront in this area and help create a secure and reliable platform for the use of bitcoin in businesses. daily financial affairs.
The California-based First Foundation Bank (NASDAQ: FFWM) is already working with Finserv and NYDIG to offer the bitcoin option to its customers. CEO Scott F. Kavanaugh commented:
In addition to enabling banks to allow their customers to buy, sell and hold bitcoin in their bank accounts, Finserv and NYDIG “are working on implementing additional features, including the ability for banks to implement runs bitcoin-based rewards programs, ”the announcement notes.
Do you think all banks and credit unions should offer customers the ability to buy and sell bitcoin on their platforms? Let us know in the comments section below.
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