Wolters Kluwer Compliance Solutions and NYDIG, a leading provider of Bitcoin platform solutions, have reached an agreement where Wolters Kluwer will serve as an exclusive preferred vendor to interested financial institutions seeking assistance in meeting their regulatory and compliance obligations while exploring and implementing services for bitcoin programs. Wolters Kluwer is positioned to provide regulatory compliance solutions and services that range from a deposit disclosure program to regulatory risk assessments for institutions looking to offer their customers access to bitcoin services provided by NYDIG.
This collaboration grants Wolters Kluwer rights as the exclusive provider of Bitcoin Deposit Disclosure Program-NYDIG Accounts of those financial institutions seeking deposit documents when their clients open a NYDIG account.
The Bitcoin Deposit Disclosure Program delivers compliant content necessary for U.S. banks and credit unions to compliantly offer NYDIG’s bitcoin program. By leveraging the NYDIG platform with Wolters Kluwer compliant content, U.S. banks and credit unions gain confidence to meet the growing mainstream interest in bitcoin to retain and grow their customer base and increase non-interest income opportunities.
“We are excited to work with an innovative financial technology firm like NYDIG to help support their growth while operating in a safe, secure and compliant manner,” said Steve Meirink, Executive Vice President and General Manager for Wolters Kluwer Compliance Solutions. “With regulatory scrutiny and oversight anticipated well into the future, our robust team of legal and compliance experts will continue to monitor and update our compliance content. Financial institutions working with NYDIG will benefit from this collaboration, providing them the confidence to know that their disclosures are compliant and meet their regulatory obligations.”
“This important relationship exemplifies why many financial institutions have chosen NYDIG as their digital assets partner. If you are a financial institution, the process of figuring out how to provide access to bitcoin is more than just an exercise in technology, but in compliance and regulations,” said Patrick Sells, NYDIG’s Chief Innovation Officer. “Wolters Kluwer’s knowledge and experience in providing regulatory risk assessments and deposit disclosures to U.S. financial institutions—and its understanding of important U.S. regulatory issues relating to digital assets—is instrumental for the industry.”
NYDIG provides Bitcoin technology and financial services solutions to banks, insurers, corporations, and institutions. The firm and its products meet the industry’s highest regulatory, audit, and governance standards. Learn more at nydig.com, or connect on LinkedIn and Twitter.
Governance, Risk & Compliance is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to help ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency, and produce better business outcomes.