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Allied Payment Network, a leading provider of innovative payment solutions to financial institutions, has announced a collaboration with NYDIG. The foremost Bitcoin-focused technology and financial services business.
As per the announcement:
“The partnership enables financial institutions to offer their customers the ability to buy, sell and hold bitcoin. Allied is the first bill pay provider in the industry to embed this service in its platform and offer it to financial institutions.”
Despite the fact that the bull market was taking a pause, traders took advantage of Bitcoin’s low value. For a long now, the digital asset has been trading between $36k and $30k, presenting a purchasing opportunity for Bitcoin hodlers. Although institutions are presently keeping a low profile in the crypto sector, such a solution has the potential to increase bitcoin acceptance.
Aside from the collaboration, Allied will use bitcoin to fund its corporate treasury, which will be enabled by NYDIG. According to data, BTC use has risen 207 percent in the last ten years, and our collaboration will assist satisfy this increasing need. They will also collaborate to make bitcoin-funded digital payments viable.
Patrick Sells, the Head of Bank Solutions at NYDIG, stated:
“Our partnership with Allied will enable financial institutions to bring bitcoin to their customers in a secure, compliant way. Together with Allied, we are excited to help financial institutions compete and to help consumers get seamless access to Bitcoin via their existing trusted relationships.”
As Allied focused on institutional clients to encourage the usage of Bitcoin, the digital asset was under market pressure. BTC rebuffed resistance at $35,000 once more, and was trading at $33,879 at the time of publication.