Digital Banking Solution Provider Q2 Holdings has announce Partnership with institutional Bitcoin investment solutions company NYDIG to provide its over 18.3 million registered users with the ability to buy, sell and hold bitcoins.
“According to a December 2020 study by Cornerstone Advisors, 15% of American consumers own bitcoin or another form of cryptocurrency,” Jonathan Price, executive vice president of business development for the second quarter, said in the announcement. The consumer survey also revealed that the majority of cryptocurrency owners would use their banks to invest in cryptocurrency if they had the option to do so. We are excited to work with NYDIG to enable financial institutions to take advantage of this market opportunity and meet the requirements of their account holders.”
Q2 is a financial institution that provides digital banking and lending solutions to banks, credit unions, alternative finance and fintech companies in the United States and abroad. According to the announcement, Q2’s digital banking platform currently occupies about 30% of the 100 largest US banks, with more than 18.3 million registered end users.
Through this partnership, Q2 plans to leverage NYDIG’s suite of Bitcoin products to enable financial institution customers to integrate Bitcoin services, allowing users to buy, sell or hold Bitcoin directly in their existing bank account applications. The announcement said the goal was to “increase the drive for end-user acquisition, retention and engagement, while increasing fee revenue opportunities” for financial institutions.
NYDIG provides technology and investment solutions in Bitcoin to banks, corporations, corporations, and high net worth individuals. The company’s founder and CEO, Robert Guttman, also commented on the partnership.
“NYDIG is proud to partner with Q2 to carry out our shared mission of helping banks, credit unions, and fintech companies provide innovative and seamless access to Bitcoin,” Guttman said in the announcement. “The work we will do together will be key to making Bitcoin as easy as possible through existing financial institutions, enabling the continued growth of the Bitcoin network.”