Deloitte and NYDIG Collaborate to Promote Using Bitcoin

According to a statement released on Tuesday, the professional services mammoth Deloitte and bitcoin investment firm NYDIG will collaborate to support companies of all kinds as they integrate digital assets into their operations.

In spite of the present crypto market slump, global professional services leader Deloitte has launched a significant campaign to encourage the use of Bitcoin (BTC).

To assist businesses of all sizes in using digital assets, Deloitte has teamed with the BTC-focussed financial services company NYDIG (New York Digital Investment Group).

A strategic partnership between NYDIG and Deloitte aims to develop a centralized strategy for clients seeking assistance in embracing Bitcoin goods and services.

The alliance aims to work towards strengthening digital assets and blockchain services across several sectors like employee benefits, banking, rewards and loyalty programs, and others, along with Bitcoin-related products. 

The release claims that there has been an increase in demand for reliable exposure to Bitcoin among international financial organizations and banks. The relationship between Deloitte and NYDIG will aid in accelerating adoption while ensuring compliance, according to Richard Rosenthal, head of Deloitte’s digital assets banking regulatory practice.

“The usage of digital assets will be central to the future of financial services, and we’re focused on advising our customers on how to operate in a regulated and legal manner.”

The announcement was made amidst the turbulent cryptocurrency market, with Bitcoin having lost roughly 50% of its value since the start of 2022.

According to an expert, “we take a longer perspective and predict that many organizations will continue to build up their own digital asset infrastructure and offerings.” The collaboration got active on June 21.

The information was released a short time after NYDIG, in February 2022, introduced a benefits program enabling workers to convert a part of their earnings into Bitcoin. In late 2021, the business raised $1 billion in equity investment, valuing NYDIG at about $7 billion.

Deloitte, one of the “Big Four” accounting companies, has been aggressively investigating the impact of cryptocurrencies like Bitcoin and other digital assets in the global economy in recent years.

In a poll released by Deloitte in June, it was discovered that 75% of American merchants intended to accept cryptocurrency or stablecoin payments over the next two years. Another research by Deloitte that focused on Bitcoin’s potential as a foundation for building a less expensive and quicker ecosystem for electronic fiat or CBDC (central bank digital currencies) was released in March.

NYDIG is a division of Stone Ridge, a holding company that has steered the development of innovative businesses in the financial and technology sectors, including a $13 billion+ alternatives asset manager.

Based on this strong foundation, NYDIG offers Bitcoin solutions to a variety of sectors, including banking, insurance, fintech, and NGOs. To make Bitcoin global, it is combining tough regulatory standards with bulletproof technology.

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