Customers of Five Star Bank in the United States will soon be able to buy and invest in bitcoin (BTC) directly from their bank accounts. All of this is possible as a result of the partnership with NYDIG.
Five Star Bank provides a variety of services. Before the end of the second quarter of 2022, BTC New York Digital Investment Group (NYDIG) has teamed with the United States Five Star Bank to offer bitcoins to the latter’s customers.
Five Star Bank intends to connect the BTC platform with NYDIG infrastructure, an online banking service, and a mobile banking application, according to the release. This will make it easier for bank account holders to purchase cryptocurrency.
Martin K. Birmingham, Chief Operating Officer of Five Star Bank, stated his goal to bridge the gap between existing assets backed by fiat currencies and bitcoin by offering consumers a secure digital solution.
With NYDIG, we are making digital transactions safer, faster, and more accessible for our customers. Five Star Bank is happy to launch a cryptocurrency-based investment solution that will broaden consumer access to this new portfolio option within our geographic reach and, frankly, across the country.
The bank’s CEO, Sean Willett, stated that the digital asset industry’s rapid expansion was crucial in forming a relationship with NYDIG. Willet also emphasised the significance of encouraging “increased cryptocurrency investment appetite.”
First Star Bank is the latest US financial institution to adopt NYDIG’s features. In 2021, the company worked with First Foundation, a California bank, and Q2online banking. The company has also partnered with MassMutual, an American insurer. The goal of the partnership was to make bitcoin accessible to qualified investors.