BTC Trading Set to Start in 300 US Community Banks in 2022

In response to increased demand from clients, an estimated 300 community banks in the United States are poised to begin offering Bitcoin trading via mobile apps. According to an American Banker story, over 300 community banks in the United States are planning to offer Bitcoin trading to their customers in the first or second quarter of 2022, with the help of Bitcoin business NYDIG. The American Bankers Association and the Independent Community Bankers of America are said to have invested in NYDIG as part of the campaign, according to the report. According to the company’s website, NYDIG is ‘a subsidiary of Stone Ridge, a holding company that has led the formation of forward-thinking enterprises spanning the worlds of technology and finance, including a $12 billion+ alternative asset manager.’ It provides ‘Bitcoin products in a wide range of industries, including banking and insurance, as well as technology and charitable organizations.’ According to Harold Reynolds, CEO of BankSouth, a Georgia-based financial institution with over $1.3 billion in assets: “We have seen significant activity in cryptocurrency transactions from our customer accounts, and a few investments have been rather large, so that is obviously getting our attention.“ Vast Bank was First-Ever National Bank to Purchase and Provide Custody Services for a Digital Asset Vast Bank, based in Oklahoma, reported on 4 February 2021 that it ‘successfully executed’ an ‘...