According to CNBC, which has obtained detailed information, the plan to provide bitcoin trading services in bank accounts is likely to be realized within 2021, and hundreds of banks are said to have participated in the plan. Although we are still in dialogue with major banks, we plan to provide services mainly to small and medium-sized banks, and it is said that the popularity of bitcoin will accelerate in the mainstream.
The company that provides CNBC with detailed information is nydig, which provides technology and investment solutions specifically for bitcoin. Nydig and financial technology company Fidelity national information service (FIS) also announced on the 5th that they will jointly provide a service to enable them to buy, sell and hold bitcoin in their bank accounts.
So far, individual customers of banks have used virtual currency exchanges such as coinbase and services such as PayPal, square and Robin Hood to trade encrypted assets (virtual currency), such as bitcoin. Yan Yan, head of nydig, said: "as the US dollars in their accounts are being transferred to exchanges such as coinbase and Kraken, banks are asking them to provide bitcoin trading services to complete the transaction internally."
Rob Lee, head of FIS Digital Banking, said: "if small and medium-sized banks offer bitcoin transactions and profit from commission income, they will become major banks such as JP Morgan Chase and Bank of America. The pressure to provide virtual currency services to ordinary customers is likely to increase. "
Nydig is planning new services, such as offering debit cards that can be rewarded with bitcoin and introducing new bank accounts guaranteed by the Federal Deposit Insurance Corporation (FDIC).