NCR, NYDIG Enable Bank Bitcoin Services

Enterprise payments firm NCR has partnered with institutional bitcoin solutions provider NYDIG to allow 650 U.S. banks and credit unions to potentially offer bitcoin purchasing services to an estimated 24 million total end users, reported Forbes.

“We’re firm believers in the benefits of crypto and the strategic application,” the NCR president of digital banking, Douglas Brown, told Forbes. “And that’s true for our banking relationships, as evidenced by NYDIG, and across retailers as well as restaurants and the like.”

The partnership was born from banks’ desires to capture fees incumbent on bitcoin trading, as they currently watch from the sidelines as clients send money from their checking and savings accounts to bitcoin exchanges.

“A lot of these banks have seen that one of the biggest outflows from their depositors is moving money from the bank to exchanges like Coinbase,” NYDIG President Yan Zhao told Forbes. “And so that’s part of why banks are so excited to have this capability for themselves and for their consumers.”

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