Hundreds of US Banks Will Soon Allow Customers To Buy, Sell and Hold Bitcoin: Report

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Hundreds of US banks will soon allow their customers to buy, sell and hold Bitcoin through their current accounts, according to a new report.

CNBC reporter Hugh Son says crypto custody firm New York Digital Investment Group (NYDIG) and Fidelity National Information Services (FIS) have confirmed they are collaborating to allow banks to support the top crypto asset.

NYDIG’s head of bank solutions Patrick Sells says banks are looking to support Bitcoin after watching their customers spend money at Coinbase and other crypto exchanges.

According to Sells, the firm is talking with some of the largest banks in the US. He says many of the financial institutions that have already signed up so far are smaller community banks.

“What we’re doing is making it simple for everyday Americans and corporations to be able to buy Bitcoin through their existing bank relationships…

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.”

Bitcoin has steadily become easier to purchase in recent years, with payments giant PayPal offering Bitcoin and several altcoins to customers in a landmark move early this year.

Morgan Stanley and Goldman Sachs are also reportedly gearing up to offer crypto services to wealthy clients.

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