Bitcoin To Reach Hundreds Of US Banks In 2021, Crypto Custody Firm NYDIG Says

Bitcoin and crypto adoption is exploding in 2021 like never before. 2020 was a successful year in this direction amidst the global crisis triggered by the pandemic, but 2021 is predicted to be the best year for digital assets so far.

CNBC learned that Bitcoin could be taking another massive step towards the mainstream adoption in 2021.

It’s been revealed that the customers of some US banks will be able to buy, hold and sell BTC via their already existing accounts, says crypto custody firm NYDIG.

US banks to offer BTC services to clients in 2021

The company is a subsidiary of $10 billion New York-based asset manager Stone Ridge, and it has partnered with fintech giant Fidelity National Information Services (FIS) to enable U.S. banks to offer BTC in the coming months, according to the two firms.

CNBC says that “Hundreds of banks are already enrolled in the program, according to Patrick Sells, head of bank solutions at NYDIG.”

The notes say that while the firm is in the talks with some of the biggest U.S. banks, many of the lenders that have agreed to participate are some small institutions such as Suncrest, a California-based community bank with seven branches.

“What we’re doing is making it simple for everyday Americans and corporations to be able to buy bitcoin through their existing bank relationships,” Sells said.

He also said that “If I’m using my mobile application to do all of my banking, now I have the ability to buy, sell and hold bitcoin.”

According to the same publication, Yan Zhao, president of NYDIG said the following.

“This is not just the banks thinking that their clients want bitcoin, they’re saying `We need to do this, because we see the data,’” Zhao said.

He continued: “They’re seeing deposits going to the Coinbases and Galaxies and Krakens of the world.”

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