$ 38,478
$ 2,341.7
$ 137.90
okex ads

CFO of World’s Largest Hedge Fund Joins Institutional Bitcoin Firm NYDIG

NYDIG, a leading bitcoin financial services firm, has announced that it will welcome the CFO of Bridgewater Associates John Dalby to its team. Dalby joins NYDIG as the new Chief Financial Officer (CFO) in what represents one of the biggest personnel shifts from the mainstream financial industry to the crypto world.

Contributing to the Greater Good

The new CFO held a similar position at Bridgewater Associates, the world’s largest hedge fund, before his appointment to NYDIG. Dalby said that he is delighted to join the team and was committed to helping NYDIG deliver innovative Bitcoin solutions to individuals and institutions.

The former CFO of Bridgewater Associates joins NYDIG during a period of rapid growth. The leading provider of investment solutions for BTC recently raised over $200M in additional capital from a group of strategic partners. The funds came from top institutions such as Morgan Stanley, MassMutual, New York Life, Liberty Mutual, Stone Ridge Holdings Group, and more.

NYDIG also launched a global Insurance Solutions practice that will spearhead the development of bitcoin-powered products and services for the global insurance sector.

According to Robert Gutmann, Co-founder of NYDIG, Mr. Dalby brings deep financial services experience to help the crypto custody firm build institutional solutions that deliver BTC safely to everyone.

NYDIG to Help US Banks Offer Bitcoin

In what has been viewed by many crypto enthusiasts as another step toward crypto’s mainstream adoption, NYDIG has unveiled an industry-first bitcoin solution for banks.

Rolled out in partnership with fintech giant Fidelity National Information Services, the new product will enable clients of some U.S. banks to buy, hold and sell BTC via their existing accounts.

According to Patrick Sells, head of bank solutions at NYDIG, hundreds of smaller US banks have already agreed to participate in the program. The firm is now engaging some of the leading U.S. banks to join in and enable ordinary Americans to get access to BTC through their existing bank relationships.

Until now, many BTC adopters have been forced to go outside of their traditional banking relationships to acquire the benchmark cryptocurrency.

The vast majority of traditional banks have steered clear of offering bitcoin to their retail customers. Therefore investors often rely on crypto-centric companies like Coinbase or payment giants such as Square and PayPal to purchase bitcoin.

The revolutionary solution from NYDIG will facilitate banks to offer crypto assets to their retail banking clients via a seamless, easy-to-use digital experience.

More Banks Are Asking For Bitcoin

Top Wall Street banks only recently warmed up to crypto and unveiled plans to allow their wealth management clients bet on bitcoin. However, they have so far refrained from offering the service to retail customers.

Nevertheless, more traditional banks are now asking for bitcoin as demand for the asset mounts from retail banking customers.

According to Yan Zhao, president of NYDIG, these banks are under increasing pressure to offer BTC to their clients as its reputation as a store of value continues to grow.

“This is not just the banks thinking that their clients want bitcoin, they’re saying `We need to do this, because we see the data.’ They’re seeing deposits going to the Coinbases and Galaxies and Krakens of the world,” Zhao noted.

The NYDIG head predicts that giant banking institutions could soon face pressure to offer bitcoin to more clients as smaller banks roll out their own crypto services.

Related Posts

Leave a Reply


Subscribe To Newsletter

For updates and exclusive offers, enter your e-mail below.

Popular Posts

July 26, 2021By
India: WazirX Partners with TRM Labs to Detect Crypto Fraud Transactions
July 26, 2021By
Wyoming Authorities Officially Recognize the First DAO in the United States
July 26, 2021By


Video Posts

Impact Of Technology On 4.0
July 6, 20210
Importance Of Cryptography
July 3, 20210

Crypto Stats

CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin38,478 0.31 % 12.10 % 20.55 %
Ethereum2,341.7 0.55 % 8.93 % 22.88 %
Tether1.000 0.07 % 0.05 % 0.25 %
Binance Coin318.73 0.69 % 6.45 % 4.75 %
Cardano1.350 0.41 % 10.61 % 13.10 %
XRP0.6603 0.30 % 9.82 % 11.96 %
Dogecoin0.2225 0.97 % 12.82 % 20.71 %
USD Coin0.9997 0.31 % 0.04 % 0.53 %
Polkadot14.81 0.17 % 10.48 % 15.95 %
Binance USD0.9984 0.49 % 0.02 % 0.64 %

You have not selected any currencies to display