Deloitte and NYDIG have formed a historical alliance that will see Bitcoin (BTC) being accessible to all despite the ongoing plummeting the global crypto market faces. And the good news is companies and businesses will now be able to integrate BTC products and services. In his words, the president of NYDIG, Yan Zhao said, “We envision a world where traditional financial infrastructure works alongside digital asset infrastructure to deliver clients a best-in-class experience with the highest regulatory compliance.”
He went on to add, “We’ve already started the journey of bringing Bitcoin to all by embedding bitcoin wallets into existing user experiences, powering bitcoin rewards programs, and enabling bitcoin-secured lending.”
Explaining the outcome of such an alliance
An intelligent question will be; what will be the outcome of such an alliance? Well, it’s quite simple. Businesses that accept cryptocurrencies are growing in leaps and bounds every year. Digital currency holders will be in desperate need of a place to spend their recently acquired virtual currencies. This is where the collaboration between Deloitte and NYDIG comes into play. They created a platform that is compliant with crypto regulations and supports various cryptocurrencies.
Just this year, NYDIG partnered with banks, several credit unions, and leaders such as Q2, CSI, FIS, Alkami, Allied Payment Network, Jack Henry, and NCR. This is enough good news for all and sundry.
In summary, this alliance will establish a centralized approach for businesses that have demonstrated or shown a willingness to adopt BTC products and services as a result of the growing demand for financial institutions to create an ecosystem for virtual or digital currencies.
Info about Deloitte
Deloitte is short for Deloitte Touche Tohmatsu Limited, with its headquarters in London and regarded as one of the “Big Four” Tax, Audit & Consulting firms. As a firm, it provides audit, accounting, advisory, consultancy, and financial services to new and growing businesses and also to some of the top brands in the world (that is, about 90% of Fortune 500 companies and thousands of private businesses).
Technically, with over 340,000 employees, they are one of the largest professional service networks in the world. Their services are known to be top-notch, which has helped them build public trust in capital markets in the last decades. Besides delivering professional services, clients have been encouraged to view challenges as a chance to do better in creating a stronger economy in the world.
Where can you get their services? Their service is readily accessible in about 150 countries in the world. Plus, this year makes it 177 years of the company existing. This infers they are not new on the playing field.
How did they get to the US? Almost 45 years of its existence in the UK, a branch was established in the United States, and in 1972 a merger was formed with Haskins & Sells to create Deloitte Haskins & Sells. In 1989, another merger was formed with Touche Ross to create Deloitte & Touche.
Deloitte was ranked as the third-largest privately owned company in the US by Forbes.
In the fiscal year of 2021, the firm raked in an aggregate of 50.2 billion US dollars. 10 years earlier on, it sponsored the 2012 Summer Olympics. The firm is known for sponsoring key events in the country.
Info about NYDIG
Headquartered in New York, United States, NYDIG is a crypto technology firm dedicated to Bitcoin. It boasts of providing financial services to a variety of industries. What’s its aim? This crypto tech company seeks to introduce financial products that will make Bitcoin an option that is universally accepted.
How was the firm established? First off, NYDIG, short for New York Digital Investment Group dates back to 2017, when it was founded by Ross Stevens and Robert Gutmann.
In 2021, a survey was run by the firm to find out if people would be interested in buying Bitcoin from their banks. 81% agreed and showed interest in purchasing Bitcoin from their bank if the service eventually becomes established. What do you think? Please, let us know!