NYDIG Partners with Moven to Offer Bitcoin to Digital Banks
NYDIG has partnered with Moven, Inc., a leading provider of smart banking technologies to promote financial wellness, to enable Moven to provide turn-key Bitcoin products and services leveraging NYDIG’s best-in-class white label digital asset platform. The partnership is first of its kind in the industry and will result in the ability for customers to buy, sell, and hold Bitcoin; open saving accounts that pay interest in Bitcoin; and benefit from a Bitcoin credit card rewards program.
As a result of the collaboration, Moven will add a suite of Bitcoin-related products to its existing “bank in a box” services, allowing banks and financial institutions to gain wallet share and drive significant incremental revenue opportunities. The offering will be powered by NYDIG’s world-class digital asset platform for secure custody, execution, and reporting services that meets the highest regulatory, audit, and governance standards.
Kesh Talwar, CEO and CRO at Moven, said, “The growth of fintech platform and of cryptocurrencies have both been striking, but the two worlds have largely been separate. Consumers trust the financial services companies with whom they already have a relationship. The data is clear: 17% of PayPal’s users bought Bitcoin through them in the first month; consumers trust financial services companies. Now, through this partnership, Moven can bring this opportunity to all in an incredibly streamlined fashion.”
Patrick Sells, Head of Bank Solutions at NYDIG, said, “We are fortunate to be able to partner with a company like Moven. Kesh and Brett King have consistently been able to predict industry trends and to lead the charge. NYDIG’s research shows that over 80% of Americans who own bitcoin today would rather hold it with their banks, and that over 85% would rather buy it through their banks. As a former banker, this blew me away. Many banks have felt left behind with the rise of fintech, but today, banks have the opportunity to capitalize on the fact that their customers strongly prefer them to be in the lead when it comes to Bitcoin.”
Brett King, Founder and Executive Chairman of Moven, added, “Moven was built to be the leader in helping provide banks with a digital solution that offered best-in-class financial wellness. This partnership with NYDIG and integration of Bitcoin into our platform will provide banks with the ability to offer Bitcoin services in a matter of weeks, and to deliver consumers the one-stop-shop that they want.”