The New York Digital Investment Group (NYDIG) in a partnership with Q2, a provider of fintech solutions, has announced in a press release that Five Star Bank and UNIFY Financial Credit Union became the first financial institutions in the US to allow their clients to buy, sell and hodl bitcoin (EXANTE: Bitcoin).
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The turnover of the cryptocurrency will be implemented through NYDIG's full-stack platform. Patrick Sells, NYDIG's CIO, says the company sees the real opportunity for financial institutions in the cryptocurrency market.
"The market momentum is building around bitcoin, and by rapidly expanding our network, we are laser-focused on helping banks and credit unions take advantage of this opportunity," Sells added.
Founded in the 1850s, Five Star Bank has over 50 branches in all around the word. UNIFY Financial Credit Union has the same number of branches around the US, with more than $3 billion in assets and 250,000 clients.
Earlier in August, Wells Fargo registered a private bitcoin fund with the US Securities and Exchange Commission in cooperation with NYDIG. According to the regulatory filing, Wells Fargo will get a percentage from the fund's sales through two of its subsidiaries: Wells Fargo Clearing Services and Wells Fargo Advisors Financial Network.
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