In response to strong customer demand, an estimated 300 banks in the United States will begin offering cryptocurrency trading via mobile apps.
According to American Banker, over 300 social media banks in the United States want to offer bitcoin trading to their consumers in the first or second quarter of 2022, in partnership with NYDIG.
NYDIG is a “subsidiary of Stone Ridge, the holding company that pioneered the development of forward-thinking technology and financial services enterprises.” It offers “bitcoin-related products and services across a range of industries, from banking and insurance to fintech and charities.”
BankSouth CEO Harold Reynolds informed reporters that he and his team had “seen extensive activity in the bitcoin transaction market on our clients’ accounts.”
In response, Brad Scrivner, CEO of Vast Bank, stated that the bank is considering opening up to cryptocurrency in response to consumer requests.
“We love developing relationships with our customers, which begins with listening to them. Many of these debates centre on cryptocurrencies. For a long period of time, our customers have expressed concern about their inability to purchase bitcoins safely using their bank account, citing issues about the trustworthiness, security, and protection of other platforms — all of which keep many customers away from the cryptocurrency phenomenon,” he explained.
This is one of the reasons why the bank “took on this challenge,” he added.
“We are delighted to be able to offer this service online and provide all customers with the peace of mind that only a bank like Vast can provide,” he said.
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Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.
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