{"id":41965,"date":"2021-05-05T17:44:44","date_gmt":"2021-05-05T14:44:44","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=41965"},"modified":"2025-08-30T21:09:54","modified_gmt":"2025-08-30T18:09:54","slug":"media-hundreds-of-american-banks-poised-to-give-clients-access-to-bitcoin","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/media-hundreds-of-american-banks-poised-to-give-clients-access-to-bitcoin\/","title":{"rendered":"Media: hundreds of American banks poised to give clients access to bitcoin"},"content":{"rendered":"

In the coming months, customers at some US banks will be able to buy, sell and store bitcoin using their existing accounts. CNBC CNBC <\/a>citing New York Digital Investment Group (NYDIG).<\/p>\n

To enable such capabilities for financial institutions, Stone Ridge\u2019s subsidiary\u2014managing $10 billion in assets\u2014entered into a partnership with fintech giant Fidelity National Information Services (FIS).<\/p>\n

While FIS, which serves banks with nearly 300 million checking accounts, will handle connectivity with financial institutions, NYDIG will provide custody and trading of cryptocurrencies.<\/p>\n

According to NYDIG’s Patrick Sells, head of Banking Solutions, hundreds of banks are already participating, the majority being small institutions with a few branches.<\/p>\n

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“What we’re doing makes it easier for ordinary Americans and corporations to buy bitcoin through their existing relationships with banks. If I use a mobile app for all my banking operations, I now have the ability to buy, sell and store cryptocurrency,” said Sells.<\/p>\n<\/blockquote>\n

In recent months there have been reports of plans to launch bitcoin-related products by major financial institutions such as Morgan Stanley<\/a>, Goldman Sachs<\/a> and JPMorgan<\/a>. But these are access-to-cryptocurrency solutions for large players, NYDIG president Yan Zhao clarified.<\/p>\n

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“Most people cannot invest in what is available to institutions,” she added.<\/p>\n<\/blockquote>\n

Rob Lee, head of digital banking at FIS, believes that banking giants could face pressure from retail investors after the smaller institutions launch bitcoin-linked services.<\/p>\n

Yan Zhao explained the growing interest by financial institutions in such services, noting that banks see more funds moving from their customers to Coinbase, Kraken and other cryptocurrency trading platforms.<\/p>\n

As noted, NYDIG also works<\/a> with fintech company Moven on a set of solutions to ease banks’ handling of bitcoin.<\/p>\n","protected":false},"excerpt":{"rendered":"

In the coming months, customers at some US banks will be able to buy, sell and store bitcoin using their existing accounts. CNBC, citing New York Digital Investment Group (NYDIG).<\/p>\n","protected":false},"author":1,"featured_media":41966,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1229,1690,26],"class_list":["post-41965","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech","tag-nydig","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/41965","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=41965"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/41965\/revisions"}],"predecessor-version":[{"id":41967,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/41965\/revisions\/41967"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/41966"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=41965"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=41965"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=41965"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}