Fiserv Integrates with NYDIG to Allow Customers to Manage Bitcoin Directly within Bank Accounts
Fiserv, Inc. (NASDAQ: FISV) announced its integration with Bitcoin services provider NYDIG that will enable banks and credit unions to meet growing mainstream interest in bitcoin, grow their customer base, and increase non-interest income opportunities.
The payments and financial services technology solutions provider has 74.84 billion in assets as of March 31, 2021.
This integration, announced this week, means customers can manage bitcoin transactions directly within their bank accounts, providing them an easy way to buy, sell, and hold BTC through their trusted financial institutions. This partnership with Fiserv, Robert Gutmann, co-founder, and CEO of NYDIG, said,
“Represents a leap forward in bringing integrated bitcoin transactions to institutions of all sizes, positioning them to meet growing demand and interest from their customers.”
Besides using Bitcoin alongside bank accounts, both the companies are also working towards implementing the ability for banks to implement bitcoin-based rewards programs. Byron Vielehr, chief digital and data officer at Fiserv said,
“Interest in cryptocurrency, and particularly bitcoin, has skyrocketed over the past several years, to the point that bitcoin investing is now a commonplace activity,”
California-based First Foundation Bank is already working with Fiserv and NYDIG for the same. Its CEO Scott F. Kavanaugh said the banking industry “need(s) to lead in this area.”