Deloitte teams up with New York Digital Investment Group (NYDIG) to help businesses utilize bitcoin products and services
Deloitte hopes to make blockchain and digital asset-based services available in a variety of industries involving Bitcoin products, such as banking and rewards programs.
Despite the ongoing market downturn, professional services firm Deloitte is getting more serious about Bitcoin (BTC), launching a big push to promote BTC use.
Deloitte has teamed up with New York Digital Investment Group (NYDIG), a Bitcoin-focused financial services organization, to help businesses of all sizes utilize digital assets.
NYDIG and Deloitte announced a strategic agreement on Monday to develop a centralized approach for clients seeking advice on Bitcoin products and services.
The firms will collaborate to provide blockchain and digital asset-based services across a variety of Bitcoin-related industries, including banking, loyalty and rewards programs, employee perks, and more.
Global financial institutions and banks have been confronting an increased need to provide trusted exposure to Bitcoin, according to the announcement. According to Deloitte’s digital assets banking regulatory practice lead Richard Rosenthal, the partnership between Deloitte and NYDIG intends to help expedite adoption while guaranteeing compliance.
“The future of financial services will center around the use of digital assets, and we are focused on advising our clients on ways to engage in a regulated and compliant way.”
Deloitte’s spokesman said that the relationship became live on June 21. The introduction coincides with a significant decline in cryptocurrency values, with Bitcoin losing about half of its value since the start of 2022.
“We take a longer view and expect that many companies will continue to build out their own digital asset infrastructure and products,” the representative noted.
The announcement comes months after NYDIG introduced a benefit scheme in February 2022 that allows employees to convert a percentage of their earnings into Bitcoin. NYDIG previously raised $1 billion in equity funding in late 2021, valuing the company at around $7 billion.
Deloitte, one of the “Big Four” accounting companies, has recently been increasingly interested in cryptocurrencies such as Bitcoin, actively studying the function of Bitcoin and other digital assets in the global economy.
According to a poll published by Deloitte in June, 75% of retailers in the United States aim to accept crypto or stablecoin payments over the next two years. In March, Deloitte released a new report demonstrating Bitcoin’s potential as a foundation for creating a cheaper and faster environment for electronic fiat or central bank digital currencies.
