Under the partnership program New York Digital Investment Group and NCR will start their services to buy & sell Cryptocurrencies like Bitcoin & Ethereum purchase with 650 U.S. Banks.
They will enable their millions of users to buy Bitcoin and other Cryptocurrencies easily.
U.S. Banks Will Allow Crypto Purchase
As we can see the present situation where most of the U.S. Banks are under restrictions by financial authorities to have connections in Cryptocurrency deals.
These restrictions are not easy to overcome by the Cryptocurrency exchanges & banks directly to serve the service.
But here the big partnership between NYDIG & Enterprise Payment Behemoth NCR will allow millions of people to get into Cryptocurrency easily.
Through this partnership, These financial institutions, which are in partnership, will be able to buy/sell & trade in crypto via mobile apps.
This app will be created separately by NCR. All the institutions will play the role of community Bank.
They also confirmed that they will not be responsible for any type of loss/profit in the Crypto holding by their clients. And all these will happen through the Custody of NYDIG.
They will only charge to serve the services related to Cryptocurrency and also charge for the transactions.
U.S. Banks Will Compete Cryptocurrency Exchanges
Since there are numbers of restrictions over Cryptocurrency exchanges but still they are running under these restrictions. But here banks believe that they have full authority in the financial system.
And also they know very well how to deal with such things in a more accurate way.
So If they provide the facility of Crypto buy and sell directly to people through banking services then a huge competition will arise between Banks & Crypto exchanges.