Deloitte and NYDIG Will Allow Businesses to Access Services Built on Bitcoin

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Big four account­ing firm Deloitte tapped Bit­coin-focused finan­cial ser­vices firm New York Dig­i­tal Invest­ment Group (NYDIG) for a strate­gic alliance that aims to help com­pa­nies access finan­cial ser­vices built on Bitcoin.

  • The new­ly formed alliance will focus on offer­ing Bit­coin-relat­ed finan­cial ser­vices to com­pa­nies of all sizes. Its tar­get­ed areas include bank­ing, con­sumer loy­al­ty and rewards pro­grams, employ­ee ben­e­fit, and more.
  • The offi­cial announce­ment has made clear that both firms will car­ry out a col­lab­o­ra­tive approach that lever­ages Deloitte’s mul­ti-dis­ci­pli­nary pro­fes­sion­al ser­vices and NYDIG’s “com­pre­hen­sive bit­coin finan­cial and tech­nol­o­gy prod­ucts and services.”
  • As con­sumers are active­ly look­ing for trust­ed expo­sure to Bit­coin, the alliance will be focused on accel­er­at­ing the adop­tion of the asset while com­ply­ing with the exist­ing reg­u­la­to­ry framework.
  • Richard Rosen­thal, the prac­tice lead of Deloitte’s dig­i­tal assets bank­ing reg­u­la­to­ry, said:

“The future of finan­cial ser­vices will cen­ter around the use of dig­i­tal assets, and we are focused on advis­ing our clients on ways to engage in a reg­u­lat­ed and com­pli­ant way.”

  • NYDIG is known for part­ner­ing with banks and insur­ance giants to offer BTC-relat­ed ser­vices. It aims to build bank­ing on Bit­coin and let com­pa­nies access such ser­vices by only deal­ing with a min­i­mal amount of on-chain transactions.
  • In Feb­ru­ary, it launched a pro­gram allow­ing employ­ees of par­tic­i­pat­ing com­pa­nies – Ever­bowl, MVB Bank, Stretch­Zone, and more – to receive pay­checks in Bit­coin. The pro­gram even allowed employ­ees to decide how much of their salaries to be con­vert­ed to BTC with no trans­ac­tion fees involved.
  • Deloitte’s inter­est in cryp­tocur­ren­cy is no longer a secret. The pro­fes­sion­al ser­vices giant has con­duct­ed a few sur­veys, not­ing the bull­ish path ahead of cryp­tocur­ren­cies as a pay­ment option in the com­ing years. For one, it stat­ed that 85% of retail­ers expect that cryp­to pay­ments “will be ubiq­ui­tous” in their respec­tive indus­tries by 2026
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