The appeal of cryptocurrencies is globally known as it is showing signs of mainstream adoption worldwide. Over 300 community banks in the United States became the latest testament to this as they announced offering BTC trading in 2022.
The financial institutions have decided to address the growing user client demand by enabling BTC trading using mobile phones. As per the American Banker’s latest report, the banks will start the initiative in 2022 Q1 or Q2 with NYDIG’s help. Visit here to know more about why institutions are choosing Bitcoin over other cryptocurrencies.
As Stone Ridge’s subsidiary, NYDIG offers BTC-related products across different markets. Stone Ridge is renowned as a holding company holding over 12 billion dollars of assets under its management. NYDIG uses its and Stone Ridge’s resources to produce BTC products around sectors like FinTech, NPO, banking, etc.
Harold Reynolds, BankSouth’s CEO, talked about the recent development. Harold stated that despite holding 1.3 billion dollars in assets, BankSouth is still experiencing a large number of clients asking for crypto-related products. Some of these investments are immense, so the institution is certainly looking for a viable solution.
Even Vast Bank, a financial institution running since 1982, announced its crypto banking service last year in August. Brad Scrivner, CEO of Vast Bank, expressed great delight in announcing the service. Brad stated that the release directly addresses customers’ needs. The institution was aware of customers’ constant questions regarding securely purchasing Bitcoin, so Vast Bank took the initiative head-on by offering a crypto banking service.
Since then, the demand for Bitcoin-related products has significantly surged in the region. That is why over 300 community banks have agreed to conduct such an immense feat.
