Several banks in the United States of America made a huge announcement recently. The banks will now allow their customers to hold Bitcoins in their possession, and they can also trade by using Bitcoins. In 2021, the customers will start trading in Bitcoins after gaining Stone Ridge’s crypto-focused subsidiary.
According to a report by CNBC, NYDIG has recently formed a partnership with Fidelity National Information Services (FIS), a payment solution provider based in Jacksonville.
Head of the banking solutions of NYDIG claims in a recent interview that this move will offer the citizens of the USA easy access to the most prominent cryptocurrency, Bitcoin, and the market related to it. This exposure will make it easy for the customers of all these banks to deal with cryptocurrency legally quickly.
Though many users of cryptocurrencies still consider payment applications such as PayPal, Square. Other than that, cryptocurrency exchanges like Coinbase are also a widely popular option among its users. If the opinion of NYDIG president Yan Zhao is to be taken, he believes that the cryptocurrency users will cash into this opportunity offered by hundreds of USA banks.
Though the banking sector is trying hard to introduce cryptocurrency as a mainstream payment option, the existing customers of these banks are not willing to invest in Bitcoins right now. The survey conducted by NYDIG reflects that the people are not ready to sign up for this facility.
It still needs to be revealed whether this step will take the banking sector to new heights or not. Only time will tell that, and probably behemoths like JPMorgan will follow the lead given by these banks.