Alex Coin 
Many of these entities will achieve their goals thanks to a partnership with NYDIG, entity that will serve as a custodian a custodian is responsible for safely holding assets for an institution or individual for a variety of purposes. and intermediary to allow bank customers to access currencies such as Bitcoin.
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Reports published in the middle of this month reveal that at least one 300 community banks in the US are almost ready to begin offering transaction Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. through mobile applications.
300 community banks to enable BTC trading
This was recently reported by the media American Banker which confirmed that the start of Bitcoin trading operations for these banks will take place sometime in 2022 thanks to an alliance with NYDIG, the leading digital currency-based products and services company, which has been working in partnership with the American Bankers Association y los Independent Community Bankers of America to provide them with access to BTC.
According to reports, the measure originally announced in mid-2021 and which is expected to materialize sometime this year, comes in the midst of high customer demand for accessing cryptocurrencies through their trusted banks, rather than through the use of commercial platforms and/or services operated by third parties. This was confirmed by the CEO of BankSouth, Harold Reynolds, who commented as follows:
“We’ve seen significant activity in transactions associated with cryptocurrencies from our clients’ accounts, and some investments have been quite large, so obviously we’re interested.”
Instead of having to deal with regulatory requirements related to holding cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. for their customers, financial institutions that choose to make the service available will rely on the custodial custodial cryptocurrency businesses are the ones that are in possession of their customers’ funds for the duration of the use of their services. services of NYDIG.
Banks are making progress in this area
However, beyond this alliance, certain U.S. banks have been making progress in this area in recent months.
One of them is Vast Bank, banking entity that in August 2021 launched its new service called “Crypto Banking”, to which the CEO of the entity, Brad Scrivner, referred as follows:
“ We took on this challenge head on and dedicated significant resources to respond to this unmet need. We are excited to bring this service online and give all consumers the opportunity to explore the world of cryptocurrencies in a way that provides the peace of mind that only a bank like Vast can provide. “.
On the other hand, there isFlushing Financial Corporation, an entity associated with Flushing Bank which issued a press release last week announcing a new agreement with NYDIG to enable the buying/selling of Bitcoin among its users:
“As part of our ongoing digital digital technologies are these electronic tools that have the ability to generate, store or even process data. transformation, we recognize the importance of keeping up with emerging market an area or arena, online or offline, in which commercial dealings are conducted. trends and consumer demand for alternative financial services. By utilizing NYDIG’s innovative technology to provide seamless access through our relationship with Q2, our online banking provider, we will be able to offer our customers the ability to buy, sell and hold bitcoins. This partnership provides our customers with a fully integrated solution for transacting bitcoin in a safe and secure environment.
Panorama regulatorio
While banks seem to want to address a place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. existing customer demand, the regulatory landscape still shows no signs of moving in the right direction for the crypto ecosystem.
Recently published reports revealed that President Joe Biden’s administration has plans to regulate cryptocurrencies at the federal level, for which it will address the issue under the category of “ National Security the term securities refers to a fungible and tradable financial instrument that carries a type of monetary value. “and will summon various agencies through an executive order to work together on this issue.
Meanwhile, the cryptocurrency market has been shaken up a bit a bit is a basic unit of information in computing. after recent announcements from the Federal Reserve (FED), whose chairman Jerome Powell confirmed last week that bank interest rates will begin to rise starting next March.
- Colorado Governor maintains plans to accept cryptocurrencies for tax payments despite falling prices
- Fed Chairman announces that bank interest rates will begin to rise starting in March of this year
- Biden Administration contemplates regulating cryptocurrencies as a national security issue
Source:Cryptoglobe, American Banker
Version by Angel Di Matteo / DiarioBitcoin
Imagen de Unsplash
