Deloitte partners with NYDIG to help institutions adopt Bitcoin

    23 Jun 2022
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    Deloitte, the leading global provider of audit and financial advisory, has announced a strategic partnership with New York Digital Investment Group (NYDIG), a Bitcoin investment firm that offers technology and financial services to businesses in a broad range of industries. Within the deal, the companies will collaborate to help businesses of different sizes incorporate digital assets into their operations like banking, rewards programs, and others.

    According to an announcement Tuesday, Deloitte’s digital property banking regulatory apply lead and principal, Deloitte & Touche LLP, Richard Rosenthal, 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.”

    Deloitte and NYDIG’s partnership is expected to speed up Bitcoin adoption while ensuring compliance with the existing crypto regulation.

    NYDIG delivers BTC products across industries, from banking and insurance to fintech and nonprofits. The company said 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.

    This January, 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. Moreover, the company launched the Bitcoin Savings Plan in February. It allows employees of leading companies to get their paychecks converted into Bitcoin.

    Meanwhile, a “Big Four” company, Deloitte, has been showing an interest in the crypto sector for a while.

    In June, the company conducted a survey to see the readiness of retailers 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. While over 85% of merchants are giving high or very high priority to enabling cryptocurrency payments.

    In 2021, another research by Deloitte showed that digital assets are expected to replace fiat currency within the next 10 years.

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