{"id":17450,"date":"2022-01-28T00:39:42","date_gmt":"2022-01-27T23:39:42","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=17450"},"modified":"2022-01-28T00:39:46","modified_gmt":"2022-01-27T23:39:46","slug":"five-star-bank-partners-with-nydig-for-crypto","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/five-star-bank-partners-with-nydig-for-crypto\/","title":{"rendered":"Five Star Bank partners with NYDIG to offer cryptocurrency services to its customers"},"content":{"rendered":"\n
Five Star Bank in the United States has partnered with NYDIG <\/a>to bring cryptocurrency services to its users, customers will soon be able to buy and invest in bitcoin (BTC) directly from their bank accounts.<\/h5>\n\n\n\n
\"Five<\/figure><\/div>\n\n\n\n

New York Digital Investment Group (NYDIG) has partnered with Five Star Bank\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> in the United States to provide bitcoin trading and virtual currency transaction services to the latter's customers by the end of the second quarter of 2022.<\/p>\n\n\n\n

Five Star Bank intends to incorporate the full-stack BTC platform developed by NYDIG into its online banking service and mobile banking app, according to the release. This will allow bank account holders to manage their digital transactions through a regulated channel, removing concerns about decentralized wallets <\/a>and key management from the crypto adoption process.<\/p>\n\n\n\n

According to both companies, the cooperation will provide consumers with an industry-standard and regulatory-compliant solution that they can use to track traditional currency assets and Bitcoin investments.<\/p>\n\n\n\n

Five Star Bank Chief Operating Officer Martin K. Birmingham commented on the announcement, saying that the bank intends to bridge the gap between existing fiat-<\/a>backed assets and bitcoin by offering consumers a secure digital alternative. Birmingham continued, “<\/p>\n\n\n\n

\u201cThanks to NYDIG, we are creating a safe, efficient, and more user-friendly way for our customers to manage their digital transactions. Customer experience continues to be at the forefront of our focus at Five Star Bank, and we\u2019re proud to bring forth a cryptocurrency investment solution<\/a> that will broaden access to this emerging portfolio option for consumers within our geographic footprint and, frankly, across the country.\u201d<\/p><\/blockquote>\n\n\n\n

The bank's Chief Administrative Officer, Sean Willett, stated that the digital asset industry's rapid growth played a key role in forming the cooperation with NYDIG. Willet also underlined the necessity of encouraging more people to invest in cryptocurrency.<\/p>\n\n\n\n

NYDIG's Bitcoin-banking goal<\/h3>\n\n\n\n

First Star Bank has joined a growing list of financial service providers in the United States that have integrated NYDIG's functionalities. In 2021, the bitcoin startup worked with First Foundation Bank of California <\/a>and Q2, an internet banking firm, to name a few.<\/p>\n\n\n\n

Indeed, the current step is in line with NYDIG's goals of giving Americans access to bitcoin. earlier announced The company had earlier teamed up with MassMutual, a major insurance company in the United States. The deal was designed to introduce qualified investors to a bitcoin fund.<\/p>\n\n\n\n

National Cash Register (NCR) and NYDIG announced their partnership in June 2021, allowing 650 credit unions and US banks to offer crypto trading services via mobile apps<\/a>.<\/p>\n\n\n\n

Landry, a restaurant and hospitality firm, has teamed with Bitcoin to develop a BTC loyalty reward program across its 500 locations.<\/p>\n","protected":false},"excerpt":{"rendered":"

Five Star Bank in the United States has partnered with NYDIG to bring cryptocurrency services to its users, customers will soon be able to buy and invest in bitcoin (BTC) directly from their bank accounts. New York Digital Investment Group (NYDIG) has partnered with Five Star Bank in the United States to provide bitcoin trading […]<\/p>\n","protected":false},"author":12,"featured_media":17452,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[5371,5392,6897,6898,5583],"class_list":["post-17450","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin-2","tag-cryptocurrency-2","tag-five-star-bank","tag-nydig-2","tag-virtual-currency-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/01\/image-304.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/17450","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=17450"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/17450\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/17452"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=17450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=17450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=17450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}