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Thursday's announcement of the partnership aims to help the increasing number of Americans who have cryptocurrency.
NYDIG, Stone Ridge's bitcoin subsidiary, is a $10 billion alternative asset manager.
Nearly 30% of the 100 largest banks in America are powered by Q2 digital banking platform.
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NYDIG, a cryptocurrency custody company, has partnered up with Q2 digital banking platform to allow over 18 million US account holders to purchase, sell, and keep bitcoin.
According to the statement, Q2, which was founded in 2004, powers almost 30% of the 100 largest banks in the US. One in 10 customers of digital banking can transact through the cloud, it is said.
Jonathan Price, EVP atQ2, announced the partnership on Thursday to help the increasing number of Americans who have cryptocurrency.
Cornerstone Advisors' December 2020 study found that 15% of US citizens own cryptocurrency. According to the study, most people would rather use their bank to invest, if they had the option.
According to the statement, NYDIG's regulated Bitcoin platform will power the collaboration. Stone Ridge's bitcoin subsidiary, which was founded in 2017, has the company as its bitcoin subsidiary. The firm manages alternative assets worth $10 billion.
NYDIG joined forces with Fidelity National Information Services, a fintech company, to allow banks to offer cryptocurrency.
According to Yan Zhao, President of NYDIG, banks have started to offer bitcoin services as they see customers sending money to cryptocurrency exchanges like Coinbase.