Deloitte and NYDIG Will Allow Businesses to Access Services Built on Bitcoin
Big four accounting firm Deloitte tapped Bitcoin-focused financial services firm New York Digital Investment Group (NYDIG) for a strategic alliance that aims to help companies access financial services built on Bitcoin.
The newly formed alliance will focus on offering Bitcoin-related financial services to companies of all sizes. Its targeted areas include banking, consumer loyalty and rewards programs, employee benefit, and more.
The official announcement has made clear that both firms will carry out a collaborative approach that leverages Deloitte’s multi-disciplinary professional services and NYDIG’s “comprehensive bitcoin financial and technology products and services.”
As consumers are actively looking for trusted exposure to Bitcoin, the alliance will be focused on accelerating the adoption of the asset while complying with the existing regulatory framework.
Richard Rosenthal, the practice lead of Deloitte’s digital assets banking regulatory, said:
“The future of financial services will center around the use of digital assets, and we are focused on advising our clients on ways to engage in a regulated and compliant way.”
NYDIG is known for partnering with banks and insurance giants to offer BTC-related services. It aims to build banking on Bitcoin and let companies access such services by only dealing with a minimal amount of on-chain transactions.
In February, it launched a program allowing employees of participating companies – Everbowl, MVB Bank, StretchZone, and more – to receive paychecks in Bitcoin. The program even allowed employees to decide how much of their salaries to be converted to BTC with no transaction fees involved.
Deloitte’s interest in cryptocurrency is no longer a secret. The professional services giant has conducted a few surveys, noting the bullish path ahead of cryptocurrencies as a payment option in the coming years. For one, it stated that 85% of retailers expect that crypto payments “will be ubiquitous” in their respective industries by 2026
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