As indicated in a joint announcement by NYDIG and Deloitte, global financial institutions and banks have been confronting a rising demand from their customers to extend their exposure to Bitcoin. Richard Rosenthal, Deloitte’s digital assets banking regulatory practice lead says that the union among Deloitte and NYDIG aims to assist with speeding up adoption while guaranteeing consistency.
“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.”
The organizations will cooperate to empower blockchain and digital asset based services across various areas including Bitcoin-related products, including banking, loyalty programs, employee benefits and others.
The news comes a long time after NYDIG introduced a benefits program permitting employees to invest a piece of their paychecks into Bitcoin in February 2022. The organization recently raised $1 billion in equity in late 2021, carrying NYDIG’s valuation to $7 billion.
Deloitte is one of the “Big Four ” accounting firms which has been more interested in cryptocurrencies like Bitcoin lately, effectively investigating the role of Bitcoin and other digital assets in the worldwide economy.
A representative for Deloitte claimed that the organization is under partnership, effective June 21. The partnership comes in the midst of a significant drop in crypto prices, with Bitcoin losing around half of its market capitalization, starting from the start of 2022.
Deloitte published a survey in June, which concluded that as 75% of retailers in the United States wanted to acknowledge crypto or stablecoin installments the following two years. Deloitte distributed one more study in March featuring the capability of Bitcoin as a base to make a less expensive and quicker environment for electronic fiat or central bank digital currencies.