The Ability To Buy, Sell and Hold Bitcoin via Bank Account’s Enabled by FIS

The Ability To Buy, Sell and Hold Bitcoin via Bank Account’s Enabled by FIS

Currently, consumers and corporations must establish new accounts, often with unregulated entities, and go outside of their traditional banking relationships to acquire bitcoin. The new solution taps into the advanced functionality of the FIS Digital One Mobile solution to allow banks to provide bitcoin services via a seamless, easy-to-use digital experience – enabling them to drive fee income and better attract and retain customers. The secure custodial and trading platform for managing the bitcoin transactions will be provided by bitcoin-focused financial services and technology provider NYDIG under a recently signed agreement with FIS. In late 2020, FIS and NYDIG partnered with Quontic Bank to enable the New York-based digital bank to be the first FDIC-insured financial institution in the US to go live with a Bitcoin Rewards debit card . In addition to the commercial agreement, FIS Ventures , the venture arm of FIS, made an investment in NYDIG for an undisclosed amount. “As demand for bitcoin as a store of value continues to grow, FIS is focused on enabling our core banking clients to respond to growing market demand and better serve their customers,” said Rob Lee , head of Global Core Banking and Channels, FIS. “Unlocking these capabilities