As a French and European citizen, I know that many people have problems when it comes to investing in cryptocurrency. Indeed, some transactions are literally blocked by our banks with some dark pretexts such as "fighting the terrorism" or other bullshit reasons like this.
Maybe that other countries have those problems with institutions. In any case, US citizens will have the possibility to invest in $BTC with their personal banks.
The access to Bitcoin for 24 millions people
Yes, these 150 banks have a total of 24 millions clients. That's pretty huge and we can imagine that their bank consultant will suggest them to invest in the crypto assets and in this way make the prizes go up.
What makes it possible ?
This news has been possible thanks to a partnership between the payment services society "NCR" and the digital asset manager NYDIG (New York Digital Investment Group). Forbes has identified all the local banks that will be able to provide you access to cryptocurrencies.
A simple and clear access to the crypto environment
To go further, those institutions are even more ambitious. Indeed, NCR wants to facilitate the access for their users with a mobile payment application allowing clients to trade cryptos easily with a clear interface while guaranteeing more safety.
Douglas Brown, NCR's president, has even declared :
"With NCR's service, customers of banks and credit unions will be able to purchase bitcoin/crypto directly through their existing accounts. This move also puts the payments giant in direct competition with existing crypto exchanges."
As a conclusion, we can definitely see that institutions have a growing interest in crypto. They're even trying to compete the huge crypto exchanges, and with Binance regulation problems, we can imagine that some users will give priority to their banks to invest in BTC or other crypto assets.
And you, what do you think about investing in crypto through your bank ?
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STOPInvesting through our banks would eliminate the blocks on transfer the banks are instituting these days “for our safety”. The important detail is whether we would be able to transfer our holdings out, or only custody them at the banks?
Investing through our banks is putting many problems yes. The good thing is that it could facilitate the access to crypto.
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