Parent Company of Crypto Investment Holding Puts Over $100M in Bitcoin
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13 October
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Stone Ridge Holdings Group, parent company of New York Digital Investment Group (NYDIG), has invested over $100 million in purchase of 10,000 BTC, the company announced in an official press release.

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With the purchase, NYDIG now stores over $1 billion in bitcoin (EXANTE: Bitcoin). The crypto-focused brokerage and custodian also reported it had raised $50 million in growth equity funding. Investors include financial services companies in commercial banking, insurance, investment banking, and asset management.

NYDIG Co-Founder and CEO, Robert Gutmann, says the company grew out of the core capabilities it developed in 2017 to manage Stone Ridge Holdings Group's investment and treasury holdings in bitcoin, and today serves its clients with the same platform.

"As bitcoin transitions to a predominantly institutionally-owned asset, NYDIG is better positioned than ever to be the leading provider of Bitcoin solutions to corporations, institutions, and banks," Gutmann added.

In August, several financial institutions and payment corporations responded to the Comptroller of the Currency's (OCC) recent statement "Advance Notice of Proposed Rulemaking" over offering custodian services for crypto-related assets.

New York Regulator Greenlights 10 Tokens for Custody

The US-based banks, including Axos Bank, PNC Bank, and U.S. Bancorp, asked the OCC and its regulatory counterparts to "clarify the supervisory requirements and expectations for services conducted on distributed ledger technology."

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