Almost the entire banking sector and credit unions suffered miserably ever since the cryptocurrency industry spiked. Now, the miserable fate reverses back to the banks and credit unions as 650 banks and more credit unions offer the purchase of Bitcoin (BTC) through them.
NYDIG and NCR’s Efforts
The New York Digital Investment Group (NYDIG) is one of the most prominent leaders for technology and further financial services, all solely dedicated only to Bitcoin (BTC). On the other hand, the Atlanta-based American software and technology services provider firm the National Cash Register Corporation (NCR) is into various attributes from retailing, kiosks, retailers, restaurants, etc.
Both these entities have strived hard together and have made history together. The NYDIG and NCR have now made it possible to purchase Bitcoin (BTC) through 650 banks across the nation. In addition, numerous credit unions are included for these BTC purchases.
On the contrary, the cryptocurrency exchanges which have thrived off the success of the industry will now face huge negative impacts and losses, as the banks and credit unions take over their efforts.
The NCR will be responsible for building mobile applications through which BTC purchases through banks and credit unions by the clients could be traded upon efficiently. Also, the NYDIG will be accountable for the custody of the holdings through these banks and credit unions.
Epic Heights of NCR and Impacts on Exchanges
In spite of this, it’s evident that the efforts of NYDIG and NCR together will completely abolish the cryptocurrency exchanges throughout. All the major functions offered by the crypto exchanges will now be taken over by NYDIG and NCR together.
With a history of more than 135 years, NCR is focused on its goal of providing BTC services to nearly more than 24 million customers.
Moreover, the NCR evidently increased its stock value by almost 238%, owing to its extreme fidelity throughout the Covid-19 pandemic.
In addition, NCR has also partnered with Flexa, a cryptocurrency payment firm. This is to enable acceptance of various cryptocurrencies like BTC, Ethereum (ETH), Dogecoin (DOGE), Litecoin (LTC), and much more for more than 650 shops, restaurants, and retail units across the nation.
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