A group of banks will start directing their customers directly in June 2021. bitcoin He explained that they were preparing to allow them to buy and sell.
Various regulatory and security concerns have been worked through in the months since the initial announcement, and partnerships and integrations between NYDIG and existing technology vendors for banks have been completed.
According to the news of American Banker, these studies have come to an end. Approximately of 300 banks In the first or second quarter of this year, with the help of financial technology and Bitcoin company NYDIG Bitcoin service expected to start.
“Crypto Won’t Disappear”
Speaking to American Banker on the subject, Zach Bishop, vice president of technology, operations and security at Synovus Bank, stated that digital assets have become more important for banks.
Matt Maxi, head of innovation at Synovus, stated that they have made significant progress and said, “We are dealing with portfolio sharing”.
Banks openly stated that this initiative is for a need.
“We’ve seen a lot of cryptocurrency activity from our clients’ accounts, and some of the investments were quite large, and this clearly caught our attention,” said Harold Reynolds, CEO of $1.3 billion BankSouth in Georgia.
“While there is great uncertainty about the future of these assets, one thing is for sure: they will not go away,” said ABA CEO Rob Nichols, citing surveys that show 16% of Americans invest in cryptocurrency.
Although the direct intermediation of banks in Bitcoin trading has been delayed due to some regulatory risks, it seems that we will hear much more bank news closely. Because banks are aware of the size of the cake created by the demands of investors and they want to get their share.
*Not Investment Advice.