Since both Deloitte and NYDIG have been attracted to Bitcoin, their partnership is expected to speed up blockchain adoption while ensuring compliance with the existing crypto regulation.
The leading global provider of audit and assurance, consulting, financial advisory, risk advisory, tax, and related services Deloitte has announced a strategic partnership with New York Digital Investment Group (NYDIG), a Bitcoin (BTC) company that offers technology and financial services to businesses in a broad range of industries. Within the deal, the companies will collaborate on making Bitcoin a universal option for banking, loyalty and rewards programs, employee benefits, as well as other services.
Richard Rosenthal, Deloitte’s digital property banking regulatory apply lead and principal, Deloitte & Touche LLP, commented:
“The way forward for monetary companies will focus on the usage of digital property, and we’re centered on advising our shoppers on methods to have interaction in a regulated and compliant approach. We consider this alliance with NYDIG will additional drive enterprise development and is one other hallmark of the intensive funding Deloitte is making in enabling digital asset innovation.”
Since both Deloitte and NYDIG have been attracted to Bitcoin, their partnership is expected to speed up blockchain adoption while ensuring compliance with the existing crypto regulation.
NYDIG is a Bitcoin company that delivers BTC products across industries, from banking and insurance to fintech and nonprofits. According to the company, it fuses stringent regulatory standards with ironclad technology to make Bitcoin universal. With the mission to make Bitcoin accessible for all, NYDIG positions itself as a gateway to a new era of financial products.
In January this year, NYDIG announced partnerships with banks and credit unions. It has partnerships with such leaders as Alkami, Allied Payment Network, CSI, FIS, Fiserv, Jack Henry, NCR, and Q2. Besides, in February, the company launched the Bitcoin Savings Plan. It allows employees of leading companies to get their paychecks converted into Bitcoin.
Deloitte’s Interest in Bitcoin
Meanwhile, a “Big Four” company Deloitte has been showing its interest in adopting cryptocurrencies for a while.
Recently, Deloitte conducted a survey to see if retailers are ready for crypto payments. It found out that three-quarters of American retailers plan to accept crypto or stablecoin as a form of payment over the next 24 months. In general, merchants broadly agree that organizations accepting digital currencies have a competitive advantage in the market. If originally it was just a marketing technique, now it is about benefits such as speed of payments and cost efficiencies.
Last year, another research by Deloitte showed that digital assets are expected to replace fiat currency within the next 10 years.
Daria is an economic student interested in the development of modern technologies. She is eager to know as much as possible about cryptos as she believes they can change our view on finance and the world in general.
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