MVB Bank and NYDIG to activate Bitcoin offers
MVB Bank is working with Victor Technologies (a subsidiary of MVB Edge Ventures) and bitcoin-focused technology and finance company NYDIG to integrate bitcoin into the banking-as-a-service solutions offered by MVB, according to a press release.
“On today’s rapidly changing financial frontier, we are proud to partner with a company like NYDIG,” said Larry F. Mazza, CEO and President of MVB Financial. “NYDIG’s vision is to make bitcoin more accessible. Adding bitcoin functionality to MVB’s already industry-leading Banking-as-a-Service solutions will propel this vision into reality and help our customers stay competitive.
As part of the partnership, MVB FinTech customers will be able to offer bitcoin and other related products.
The work will be powered by NYDIG’s full-stack platform.
Through this partnership, companies will now be able to offer both traditional financial products and bitcoin services such as trading and rewards.
“Our partnership with MVB represents a significant milestone for bitcoin,” said Patrick Sells, NYDIG chief innovation officer. “So far, only a few select FinTech companies have been able to offer bitcoin products and services, and this has been difficult to achieve. Today, the industry has its first turnkey platform to seamlessly deliver white-label banking products and bitcoin products side-by-side. I look forward to seeing how this partnership will help MVB’s customers – across FinTech, games and beyond – to continue to innovate.
PYMNTS also reported on NYDIG’s effort with payments company NCR to offer bitcoin purchases to hundreds of businesses.
Read more: Bitcoin Daily: NCR, NYDIG to authorize Bitcoin purchases; World Wide Web source code sold as NFT for $ 5.4 million
Under the deal, banks like First Citizens Bank of North Carolina, as well as credit unions like Bay Federal Credit Union of California, will now be able to work more with cryptocurrency. The idea was for NCR to strengthen the ability of banks, credit unions and other similar places to handle crypto payments through NCR’s mobile app.