NYDIG SIMON Partnership Bitcoin – Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides

SIMON Markets LLC has stricken a partnership with New York Digital Investment Group LLC (NYDIG) where they will be collaborating on a custody offering, offering features like bitcoin-backed borrowing, reported Business Wire. SIMON’s wealth managers serve clients with more than $5 trillion in total assets.

SIMON will massively benefit from NYDIG’s integrated solutions to provide their clients with institutional-quality custody and execution services. This new partnership will give wealth managers the confidence they need to dip their toes into the bitcoin space and be able to offer their clients the modern-day products and advice they demand.

The announcement also stated the launch of a bitcoin education platform specially designed for wealth managers. As well as an “innovative approach to product access through passive private investment vehicles” which is reportedly coming in the near future.

“Our partnership with SIMON will give many advisors new access to bitcoin for the first time — making it safe and seamless for them to fold bitcoin into alternative asset allocations with SIMON’s best-in-class, holistic wealth management experience,” commented NYDIG CEO Robert Gutmann. “As market demand grows for clarity around bitcoin, advisors will play an increasingly critical role in helping clients invest safely, and delivering the regulatory mechanisms to make that possible is the first step.”

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