New York Retail Bank to Provide Bitcoin Services

New York Retail Bank to Provide Bitcoin Services

New York retail bank wants to be a part of emerging market trends and user demands to be fulfilled.

“As part of our ongoing digital transformation, we recognize the significance of staying current with emerging market trends,” stated Flushing Financial Corporation CEO and president John R. Buran.

Flushing Financial Corporation is the tie-up with Crypto firm New York Digital Investment Group (NYDIG) to provide Bitcoin services to clients.

The bank was launched in 1929 and according to its Q4 report, It holds assets worth more than $8 billion and a net income of $200 million.

Flushing Financial bank is a tie-up with (NYDIG) to enable BTC to buy, sell, and hold services in a “safe and secure environment.” for their clients.

Flushing Bank said that it aspires to establish its BTC-related services subsequently this quarter and will reveal additional details of its roadmap shortly.

Flushing Financial Corporation CEO and president John R. Buran attributed the firm’s BTC adoption space to being updated with booming financial trends in the business niche.

With digitalization, being a part of newly booming market trends, users demand new financial services instead of traditional ones.

NYDIG is a bigwig in the crypto sector that mainly equips BTC-related services and products. The NYDIG has raised $1 billion worth in funding at a valuation of nearly $7 billion.

NYDIG states that it has more than 35 collaborations in the sector, including contracts with Five Star Bank, Idaho Central Credit Union, STAR Bank, U.S. Bank, and NYMBUS, to name a few.

NYDIG chief innovation officer Patrick Sells stated on Tuesday that the firm is paying notable concentration to partner with standard financial institutions as it’s “ready to show the world that banking is more satisfactory with Bitcoin.”

Sells emphasized a growing market for crypto openness via organizations with which users are already friendly:

The user wants to invest in digital currency like Bitcoin through authorized, a guaranteed organizations like Banks.

This strongly indicates the booming of cryptocurrency and associated businesses like Cryptocurrency exchange. New crypto trading platforms are emerging with easy-to-market scripts like Binance clone.