- Five Star Bank and UNIFY Financial Credit Union will be the first firms to offer bitcoin services to their banking customers through NYDIG’s partnership with Q2.
- The institutional bitcoin broker NYDIG partnered with fintech Q2 in June.
- A few months later and the collaboration has started showing results.
Five Star Bank and UNIFY Financial Credit Union can now enable their banking customers and members to buy, sell, and hold bitcoin. The announcement marks the first fruit of a partnership started in June between NYDIG and Q2 Digital Banking.
“We know that the opportunity for financial institutions is real, and that is why we’re so excited to have our first financial institution customers live on the Q2 Digital Banking Platform,” NYDIG’s chief innovation officer Patrick Sells said. “Working together with the Q2 team and their technology has been exhilarating – we went from concept to the first production transaction in less than 120 days.”
The collaboration between the fintech and the bitcoin-focused firm was first announced in June, when the two companies teamed up to enable Q2’s over 18 million registered users the ability to buy, sell and hold bitcoin.
“Built on the Q2 Innovation Studio, this new Q2-NYDIG offering gives financial institutions the choice to offer Bitcoin to their end users, while taking into account the regulatory and security requirements needed to enable banks and credit unions to securely step into the bitcoin arena and meet growing consumer demand,” said Jonathan Price, Q2’s executive vice president.
The first two financial institutions to add this capability to their banking services are Five Star Bank and UNIFY credit union, allowing its customers to buy, sell, and hold BTC directly through their bank accounts.
“We are excited to be among the first banks to deliver secure and seamless bitcoin services to our customers,” said Sean Willett, chief administrative officer at Five Star Bank.
“By offering the ability to trade in Bitcoin, UNIFY brings substantial new product value to our members that can help differentiate us from other financial institutions,” said Greg Glawson, EVP and chief information officer at UNIFY.