Payment service provider Allied Payment Network has partnered with New York Digital Investment Group, the bitcoin subsidiary of $ 10 billion asset manager Stone Ridge. Financial institutions using the Allied platform will be able to offer their customers the ability to buy, sell and hold bitcoin. Additionally, Allied will keep bitcoin on its balance sheet.
- Allied Payment Network (Allied), a digital payment service provider for financial institutions, on Tuesday announced its partnership with New York Digital Investment Group (NYDIG), a bitcoin technology and financial services company. NYDIG is a subsidiary of Stone Ridge, a $ 10 billion alternative asset manager.
- âThe partnership enables financial institutions to offer their customers the ability to buy, sell and hold bitcoin,â says the announcement, saying âAllied is the industry’s first bill payment provider to integrate this service in its platform and to offer it to establishments. â
- The ad adds:
Along with this partnership, Allied announced that it will allocate bitcoin to its corporate treasury, facilitated by NYDIG.
- Financial institutions’ bill payment platforms will be integrated with NYDIG’s bitcoin platform, allowing customers to access the bitcoin service through their online banking or mobile apps.
- Allied and NYDIG will also work together to offer additional capabilities such as allowing consumers to make BTC-funded payments.
- NYDIG recently made several other partnership announcements, including a partnership with Finserv, NCR and Q2.
What do you think of Allied Payment Network offering bitcoin service and keeping BTC in its corporate treasury? Let us know in the comments section below.
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