The New York Digital Investment Group firm wants to form an alliance with Financial Software Developers Fiserv to bring out a system that would allow purchasing Bitcoin directly from the custom portal created online.
As of now, if anyone is in need to acquire Bitcoin or other cryptocurrencies, He/she must either use a cryptocurrency exchange like Coinbase, Binance or other services like PayPal to get their hands on Bitcoin and other cryptocurrencies. Both Fiserv and NYDIG wants to bring a significant change that would eliminate the need for a middleman that would be responsible for holding the asset. Instead, it would let users directly transfer Bitcoin into their accounts using the custom created online banking portal.
Chief Data Officer at Fiserv, Mr Byron Vielehr, has said that demand and interest in cryptocurrencies like Bitcoin have seen a huge uprise in the past couple of years, which leads to the point that Bitcoin trading is now seen as something quite common around the globe. Byron also said that many people are turning their heads over to financial institutions as a central hub for tracking and taking care of their financial activities, so providing users with this new opportunity will certainly help out mainstream banks and Unions to bring the best for their users.
First Foundation Bank
According to a joint announcement made by both partnered firms, it said that the first of the initial customer base, First Foundation Bank from California, has made a significant investment into NYDIG and is ready to integrate the new portal system. CEO of First Foundation, Scott F. Kavanaugh, stated about the situation that Digital Assets had had a great amount of interest developed into traders and consumers, which can prove to be beneficial. Scott also said that for the industry to evolve, the proper passion and dedication must be implemented in working on unique ideas that can help banks like ours to take the lead over others and excel not only in the traditional but also in the crypto industry.
NYDIG has also had partnerships with Fiserv Rivals FIS. FIS has also been looking at new opportunities to provide users with the ability to take in interests developed from Bitcoin Balances. Officials from NYDIG have said that the partnership with FIS continues to strive and that teaming up with Fiserv is being treated as a secondary partnership.