FIS, the company that provides technology solutions to banks and owns payment provider WorldPay, has partnered with NYDIG, the crypto asset management and digital custody company. Together they aim to enable hundreds of smaller U.S. banks to offer their account holders access to Bitcoin, the only digital currency with which NYDIG works. The idea is that many people wouldn’t be willing to open an account or wallet with a specialist cryptocurrency exchange. But if they can access it from a banking app, they’d be more comfortable.
The partners previously worked together late last year to enable the New York-based digital Quontic digital bank to offer a Bitcoin rewards debit card.
Access to cryptocurrency will be through the FIS Digital One Mobile solution. Additionally, FIS Ventures made an investment in NYDIG. In March NYDIG, a subsidiary of Stone Ridge, announced a $200 million funding round that included investors such as Morgan Stanley, New York Life, MassMutual, Soros Fund Management, and FS Investments. Morgan Stanley also said it would offer access to cryptocurrencies to its wealth clients through NYDIG and Galaxy Digital asset management.
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