Bitcoin NYDIG announced that it has entered into an agreement with Flushing Bank Corporation to provide bitcoin services to customers
Partnership
By signing a deal with New York Digital Investment Group (NYDIG), a New York-based commercial bank will be able to provide its clients Bitcoin services. Additional information about this service is expected to be made available on the bank’s website in the first quarter of 2022.
New York City’s four boroughs and Long Island are covered by the bank’s existing branches. The BTC service Flushing Bank has introduced to its structure allows it to extend its investment base. NYDIG collaborated with Q2 in June to provide Bitcoin access to more than 18 million end-consumers via Q2’s institutional clients. After a few months, 5 Star Financial institution and UNIFY credit score union were the first two Q2 customers to join the Bitcoin ecosystem, a result of the partnership.
Incorporated in 1850, Five Star Bank now boasts more than 50 locations worldwide. In all, UNIFY Financial Credit Union has more than $3 billion in assets and over 250,000 members throughout the United States.
Quotes
“Using 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 Bitcoin,” said John R. Buran, Flushing Bank’s president and CEO, per the statement. “This partnership provides our customers with a fully integrated solution to conduct Bitcoin transactions in a safe and secure environment.”
Flushing Bank’s “ongoing digital transformation,” according to Buran, strives to keep the financial institution up to speed with evolving trends and client demand by introducing new products and services.
“Consumer interest in Bitcoin is growing rapidly and NYDIG has the tools and expertise to help community banks meet that demand,” said Patrick Sells, CIO at NYDIG, according to the statement. “Together with forward-thinking institutions like Flushing Bank, we’re on the path to achieving our mission of Bitcoin for all.” Through Q2’s institutional clients, NYDIG partnered with digital banking solutions provider Q2 in June to bring Bitcoin to more than 18 million end-consumers. Five Star Bank and UNIFY credit union became the first two Q2 clients to opt into the Bitcoin ecosystem, a few months after the collaboration began to bear fruit.
