The Five Star Bank will partner with the NYDIG to offer BTC services to their account holders as more and more financial institutions in the US started partnering with NYDIG as we reproted in our cryptocurrency news.
The customers of the US Financial Service Provider Five Star Bank will be able to securely buy and invest in BTC from their bank accounts thanks to the new partnership with NYDIG. The New York Digital Investment Group struck a partnership with the American-based Five Star Bank in order to onboard BTC trading and virtual currency transaction facilities for the consumers by the end of the second quarter of this year. According to the announcement, the bank will integrate the full-stack BTC platform developed by the NYDIG into the online banking service and the mobile banking app. It will allow the bank’s account holders to manage their transactiosn in a regulated channel and will negat3e crypto adoption concerns relating to the wallets and key management.
The new partnership will provide the customers with the industry-standard and compliant services they can leverage and monitor traditional fiat assets and BTC investments as the bot firms noted. Commenting on the announcement, the Five Star Bank Chief Operating Officer Martin Birmingham expressed more intentions to bridge the gap between the fiat-backed assets and BTC by providing customers with a secure solution and he added:
ADVERTISEMENT
“Thanks to NYDIG, we are creating a safe, efficient, and more user-friendly way for our customers to manage their digital transactions. Customer experience continues to be at the forefront of our focus at Five Star Bank, and we’re proud to bring forth a cryptocurrency investment solution that will broaden access to this emerging portfolio option for consumers within our geographic footprint and, frankly, across the country.”
The bank’s Chief Administrative Officer added that the growth occuring across the digital asset industry played a huge role in triking the partnership with NYDIG, Sean Willet also noted the importance of supporting an increased investment appetite for crypto. The latest development aligns with the NYDIG ambitions to provide US citizens access to BTC. the National Cash REgister back in 2021 announced its collaboration with the NYDIG to allow 650 credit unions and banks to start offering crypto trading services via mobile apps.
ADVERTISEMENT
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]
