650 US Banks Allow Millions of Clients to Buy Bitcoin with their Bank Accounts

650 US Banks Allow Millions of Clients to Buy Bitcoin with their Bank Accounts
фото показано с : coinjournal.net

2021-7-1 13:11

Almost 24 million bank and credit union customers can buy cryptocurrencies using their accounts.

Bitcoin is the most popular cryptocurrency among institutional buyers

About 650 US banks and credit unions are set to offer access to Bitcoin and cryptocurrency trading to millions of customers.

This is after collaborative work between the financial institutions and enterprise payments firm National Cash Register (NCR) and digital asset management platform NYDIG, Forbes reports.

The initiative allows customers to buy and trade Bitcoin directly from their accounts, with the regulatory framework allowing for holding of cryptocurrencies provided for by the NYDIG’s custody services.

Project to benefit 24 million customers

Close to 24 million clients will have access to crypto purchases and trading services, doing so via mobile apps built by the NCR.

While customers can buy directly with their accounts, the cryptocurrency they purchase will come from regulated digital asset exchanges and OTC desks, allowing banks to offer them at a slight markup to cater to investment advice provided.

On the other hand, custody provider NYDIG will earn a fee, to be paid per user per month, from the bank.

According to Patrick Sells, NYDIG’s head of bank solutions, users are set to benefit from cheaper transaction fees as a result of this arrangement. However, the banks will have leeway on just how much the transaction fee will be, suggesting a variation in fees across different banks.

Expansion across ‘multi vertical markets’

NCR has been in operation for over 130 years and is currently providing financial services to thousands of clients. With crypto in the limelight following increased interest from institutional and retail investors, the plan is to expand these services even further.

“We have a broader ambition to do a multitude of things with crypto that will extend into our multi vertical markets, retailers and restaurants,” Brown told Forbes.

NCR has a presence in 160 countries, where it provides services that include digital banking, ATMs, and payment services to thousands of restaurants and retail outlets.

The company has plans to bring crypto payments to 200,000 restaurants and retail outlets, while it also targets making its 800,000 ATMs available for Bitcoin purchasing.

The post 650 US Banks Allow Millions of Clients to Buy Bitcoin with their Bank Accounts appeared first on Coin Journal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Time New Bank (TNB) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.01 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0020147 (-100%)

bank accounts buy credit million union customers

bank accounts → Результатов: 126


Binance top exec reportedly controlled US subsidiary’s bank accounts between 2019 and 2020

Binance top executive, Guangying Chen, reportedly controlled five bank accounts of its independent U.S. subsidiary between 2019 and 2020, Reuters reported on June 5, citing bank records. The defunct bank Silvergate Bank reportedly authorized Chen as the “Primary Admin User” of the five bank accounts, including one that held American customers’ funds and an account for […] The post Binance top exec reportedly controlled US subsidiary’s bank accounts between 2019 and 2020 appeared first on CryptoSlate.

2023-6-6 19:17


Is International Pressures Forcing South African Banks to Close Crypto Exchange Accounts?

The big-four bank, Nedbank, may become the latest financial institution in South Africa to close cryptocurrency bank accounts, reports the local media channel. The bank will be following in the footsteps of the First National Bank (FNB) that closed the digital currency-related bank accounts back in November, last year citing lack of regulations as the […]

2020-1-26 00:55


Фото:

Brazilian Crypto Exchange Wins Legal Battle Over Closed Bank Account

A court in Rio de Janeiro has ruled in favor of Brazilian crypto exchange Mercado Bitcoin in a case over the closure of one of its checking accounts. The judicial instance turned down an appeal filed by Banco Sicoob against a decision by the district court in Barra da Tijuca which granted the exchange the […] The post Brazilian Crypto Exchange Wins Legal Battle Over Closed Bank Account appeared first on Bitcoin News.

2019-2-10 05:40


Bitstamp Partners With Leading Swiss Online Bank to Enable Bitcoin (BTC) Funding and Withdrawals

The cryptocurrency exchange of Bitstamp has partnered with Dukascopy Bank to enable crypto funding for the clients of the bank. The bank is a leading Swiss online bank and its clients can now send Bitcoin (BTC) to their accounts and the crypto will be converted to US Dollars which they can use to trade on […] The post Bitstamp Partners With Leading Swiss Online Bank to Enable Bitcoin (BTC) Funding and Withdrawals appeared first on Ethereum World News.

2019-1-26 10:24


Фото:

Indian Bank Forcing Customers to Agree to Anti-Cryptocurrency Policy

An Indian bank is reportedly forcing customers to agree that they “will not deal with any transactions related to cryptocurrency including bitcoins” when signing up for an account. In addition, there are reports of banks blocking accounts of their existing customers if they are found to have made crypto-related transactions.

2019-1-11 11:00


Chilean Anti-Monopoly Court Grants Protection To Local Crypto Exchanges And Their Bank Accounts

Breaking: Chilean Anti-Monopoly Court Rules In Favor Of Local Crypto Exchanges In what can only be considered to be a landmark decision for the global crypto community as a whole, the Chilean anti-monopoly court has recently released an order that “grants protection” to local cryptocurrency exchanges by forcing banks to keep their accounts open— thus […]

2019-1-4 19:21


Фото:

The Daily: Coinbase Adds Paypal Withdrawals, Gazprombank to Manage Crypto Assets

In this edition of The Daily, Coinbase customers in certain regions can now link their Paypal accounts to withdraw fiat and sell cryptocurrencies. Also, Russia’s third-largest bank is working to launch a digital asset management service in Switzerland, and Koinex, India’s leading crypto exchange, has set up a new development center in Bengaluru, the country’s […] The post The Daily: Coinbase Adds Paypal Withdrawals, Gazprombank to Manage Crypto Assets appeared first on Bitcoin News.

2018-12-7 17:15


Фото:

Chilean Court Rules in Favor of Closing Bank Accounts of Crypto Exchange Orionx

In a landmark judgment, the Supreme Court of Chile has ruled that state-owned Bancoestado was justified in closing the accounts of cryptocurrency exchange Orionx without explanation. The judges ruled that the bank acted in compliance with laws on money laundering and terrorist financing, a threat allegedly posed by censorship-resistant, decentralized cryptocurrencies.

2018-12-6 14:30