Wednesday, September 28, 2022
HomeBTCFlushing Bank will collaborate with NYDIG to provide Bitcoin to its customers

Flushing Bank will collaborate with NYDIG to provide Bitcoin to its customers

Flushing Financial Corporation, the parent company of Flushing Bank in New York, has teamed up with crypto startup New York Digital Investment Group (NYDIG) to provide Bitcoin (BTC) services to its clients.

“We appreciate the necessity of being current with evolving industry trends as part of our continuing digital transformation,” stated John R. Buran, president and CEO of Flushing Financial Corporation.

The bank was formed in 1929 and had over USD 8 billion in assets at the end of 2021, according to its Q4 report, with a net income of over USD 200 million. Flushing Bank claimed that it plans to start its BTC-related services later this quarter and that it would share more information about its strategy soon.

“As part of our continuous digital transformation, we understand the necessity of remaining current with developing market trends and client demand for other financial services,” said John R. Buran, president and CEO of Flushing Financial Corporation.

NYDIG is a crypto heavyweight that specialises in Bitcoin-related services and goods. In December, the company secured $1 billion in capital at a valuation of over $7 billion.

NYDIG claims to have more than 35 banking operations including agreements with Five Star Bank, Idaho Central Credit Union, STAR Bank, U.S. Bank, and NYMBUS. The company has also been slowly expanding its mainstream profile through collaborations with prominent athletic organisations such as the NBA’s Houston Rockets and luxury car dealership Post Oak Motor Cars.

 

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