Deloitte and NYDIG Announces a Partnership to Enable Businesses of All Kinds to Accept Bitcoin
- The alliance between Deloitte and NYDIG will focus on a centralized approach to implementing Bitcoin services.
Deloitte, a global professional services organization, and NYDIG, a Bitcoin-oriented company, have announced a strategic alliance to help businesses of all kinds accept digital assets. According to the announcement, the alliance between Deloitte and NYDIG will focus on a centralized approach to implementing Bitcoin services.
“We envision a world where traditional financial infrastructure works alongside digital asset infrastructure to deliver clients a best-in-class experience with the highest standards of regulatory compliance,” said Yan Zhao, president of NYDIG. “We’ve already started the journey of bringing bitcoin to all by embedding bitcoin wallets into existing user experiences, powering bitcoin rewards programs, and enabling bitcoin-secured lending. Deloitte is the perfect collaborator to help companies take the next step to efficiently execute on these types of projects and meet customer demand with a high level of rigor.”
Bigger Picture of the Alliance Between NYDIG and Deloitte
The crypto market is in a critical adoption phase after a decade of insane profits. The United States has in the past few years made notable steps toward clear crypto regulations. Moreover, global governments are looking into ways to safely adopt crypto assets.
Market analysts have described the current crypto phase as a major growth period for companies that are delivering real-world utilities. Blockchain-related companies are building on multichain capabilities to enable seamless interaction with other projects.
“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,” said Richard Rosenthal, Deloitte’s digital assets banking regulatory practice lead and principal, Deloitte & Touche LLP. “We believe this alliance with NYDIG will further drive business growth and is another hallmark of the extensive investment Deloitte is making in enabling digital asset innovation.”
Institutional investors have been described to be a major contributing factor to the previous bull market. Moreover, major traditional technology companies have shifted towards blockchain and crypto related ventures.
Notably, Deloitte provides nearly 90 percent of the Fortune 500 and more than 7,000 private companies.
With NYDIG vast Bitcoin trading platform designed for business operations. Their alliance is not only strategic but also critical in keeping the United States ahead of other countries in Bitcoin adoption.
The United States through the SEC has approved several Bitcoin and Ethereum Exchange Traded Funds (ETFs). More institutional investors are projected to adopt digital assets in the near future. In fact, a recent study by Deloitte indicates that nearly 75 percent of US merchants plan to accept stablecoin payments. Additionally the report noted that almost the same reported plans to accept cryptocurrency payments, both within the next 24 months.