Allied Payment Network, a digital payments provider for financial institutions, plans to allow clients to buy, sell and hold bitcoin through a new partnership with NYDIG.
- The partnership also allows Allied Payment Network to make a bitcoin allocation for its corporate treasury, it said Tuesday.
- Customers of Allied Payment Network's clients will be given access to NYDIG's platform when making bill payments through online or digital banking.
- Allied's aim is to help its clients – many being small, local or regional institutions – compete in the marketplace with a differentiated service.
- "Providing access to bitcoin does just that, and is a game-changer for many community institutions that are struggling to compete," Ralph Marcuccilli, Allied's founder, said.
- In that sense, the partnership is similar to one NYDIG recently entered into with Texas-based fintech firm Q2, the online banking software provider to 450 small and medium-sized banks and credit unions.