NYDIG, a Bitcoin-based fintech company, announced a partnership with MVB bank to integrate its Bitcoin services within MVB’s banking as a service offering.
The collaborative effort will enable the development of a white label solution that will enable third parties to integrate bitcoin functionality into their financial services without having to design these systems in-house.
NYDIG and MVB Bank Announce Partnership to Integrate Bitcoin NYDIG, a leading financial solutions firm focused on Bitcoin services, announced a partnership with MVB Bank, a banking-as-a-service provider, to integrate MVB Bank’s full bitcoin stack services into its platform. This enables MVB Bank to provide third parties a comprehensive solution that may include both fiat and bitcoin banking, facilitating the transition of its customers to cryptocurrency.
MVB Bank presently serves over 50 institutional customers, including fintech, payments, and gaming enterprises, using its Victor platform. Victor’s goal is to create an all-in-one solution that is customizable and brandable for financial technology enterprises. Victor’s existing and future customers would be able to add bitcoin services directly through the platform, rather than having to do so manually. Matt West, CSO of MVB Bank, claimed the following:
We are thrilled that NYDIG chose to leverage Victor to integrate with MVB and that our developer-friendly APIs accelerated the timeline to launch this exciting program.
Solutions Under Your Own Label
Until date, only a few businesses have offered cryptocurrency-as-a-service platforms. As a result of a shortage of labor to program support for additional goods, small businesses and small banks were unable to offer them. NYDIG and MVB’s collaboration will result in a solution that enables businesses to brand the product and integrate bitcoin into platforms their customers are already familiar with and use on a daily basis. This is intended to facilitate a smooth transition to bitcoin-based services.
NYDIG’s Chief Information Officer, Patrick Sells, reflected on this, stating: Until now, only a small number of fintech companies have been able to offer Bitcoin-related products and services, and doing so has been tough. The industry now has the industry’s first turnkey platform for delivering white label banking and Bitcoin goods concurrently. Bancoagricola Will Accept Bitcoin As Payment For Loans, Credit Cards, And Other ServicesThe firms did not provide an estimated date for when this integration will be available for consumer testing.
Also Read: Bancoagricola Will Accept Bitcoin As Payment For Loans, Credit Cards, And Other Services
Wallets