Banks and credit unions can now enable their
accountholders to transact Bitcoin seamlessly and securely inside
the Q2 Digital Banking Platform
Q2 Holdings, Inc. (NYSE:QTWO), a leading provider of digital
transformation solutions for banking and lending, and NYDIG, a
leading bitcoin company, today announced Five Star Bank (NY) and
UNIFY Financial Credit Union as the first financial institutions in
the U.S. to enable their banking clients and members to buy, sell
and hold bitcoin, powered by NYDIG. With the integration of NYDIG
into the Q2 Digital Banking Platform, leveraging Q2’s Innovation
Studio, banks and credit unions can now provide bitcoin services to
their customers and members, while helping to overcome barriers
such as wallets and key management.
NYDIG’s full-stack Bitcoin platform is built to the highest
security, regulatory, and operational standards to help traditional
banks and credit unions enable their account holders to buy, sell,
and hold bitcoin and to view their current bitcoin balance
alongside their traditional banking accounts. By leveraging NYDIG’s
Bitcoin platform, Q2’s financial institution clients will be able
to provide their account holders with integrated bitcoin services
and further drive end-user acquisition, retention, and engagement,
while increasing fee revenue opportunities.
“This is a game changer for financial institutions in the U.S.,”
said Jonathan Price, Q2’s executive vice president, Emerging
Businesses, Corporate & Business Development. “Built on the Q2
Innovation Studio, this new Q2-NYDIG offering gives financial
institutions the choice to offer Bitcoin to their end users, while
taking into account the regulatory and security requirements needed
to enable banks and credit unions to securely step into the bitcoin
arena and meet growing consumer demand.”
“The market momentum is building around bitcoin, and by rapidly
expanding our network, we are laser-focused on helping banks and
credit unions take advantage of this opportunity,” said Patrick
Sells, NYDIG’s chief innovation officer. “We know that the
opportunity for financial institutions is real, and that is why
we’re so excited to have our first financial institution customers
live on the Q2 Digital Banking Platform. Working together with the
Q2 team and their technology has been exhilarating – we went from
concept to the first production transaction in less than 120 days.
Our partnership with Q2 is simply groundbreaking for Bitcoin +
Banking, and together we will work towards creating a more
prosperous financial future for consumers.”
According to NYDIG’s research, more than 20 percent of American
adults own bitcoin and more than 80 percent of them would store it
with their primary bank or credit union, if the service was
offered. Additionally, more than 71 percent of bitcoin holders say
they would switch to a bank or credit union that supports
Bitcoin.
“At Five Star Bank, we believe we have a fundamental
responsibility to adapt quickly to meet the needs of our customers,
associates and the communities we serve,” said Martin K.
Birmingham, CEO of Five Star Bank. “Today’s announcement is a
testament of our commitment to evolve and respond quickly to market
changes.”
“With market and consumer trends evolving, increasing numbers of
consumers are seeking easy, secure access to Bitcoin from sources
they trust. We are excited to be among the first banks to deliver
secure and seamless bitcoin services to our customers and are so
appreciative of our strong partnership with Q2 and our new
relationship with NYDIG, who together have enabled us to achieve
this important milestone,” said Sean Willett, chief administrative
officer, Five Star Bank.
“This is an exciting partnership with Q2 and NYDIG and a huge
opportunity for UNIFY and our members. We are thrilled to be the
first credit union on the Q2 platform to enable members to trade
Bitcoin,” said Greg Glawson, EVP, chief information officer, UNIFY
Financial Credit Union. “By offering a streamlined and simple
process to begin trading in this new asset class, we are continuing
to meet our member needs, especially as many have awareness about
the convenience and benefit cryptocurrency may provide. Having a
trusted provider in their credit union will hopefully add to their
confidence as they engage in this new opportunity. By offering the
ability to trade in Bitcoin, UNIFY brings substantial new product
value to our members that can help differentiate us from other
financial institutions.”
The collaboration extends NYDIG’s secure, regulated Bitcoin
platform to Q2’s extensive customer base with more than 18 million
end users. Using the Q2 Innovation Studio and Q2’s modern,
best-in-breed open-architecture Digital Banking Platform,
traditional financial institutions now have the ability to
seamlessly add Bitcoin services to their existing capabilities on
the Q2 Digital Banking Platform.
About NYDIG
NYDIG is a bitcoin company providing technology and financial
services solutions to banks, insurers, corporations, and
institutions. The firm and its products meet the industry’s highest
regulatory, audit, and governance standards. Learn more at
nydig.com, or connect on LinkedIn and Twitter.
About Q2 Holdings, Inc.
Q2 is a financial experience company dedicated to providing
digital banking and lending solutions to banks, credit unions,
alternative finance, and fintech companies in the U.S. and
internationally. With comprehensive end-to-end solution sets, Q2
enables its partners to provide cohesive, secure, data-driven
experiences to every account holder – from consumer to small
business and corporate. Headquartered in Austin, Texas, Q2 has
offices worldwide and is publicly traded on the NYSE under the
stock symbol QTWO. To learn more, please visit Q2.com.
NYDIG, NYDIG, and NEW YORK DIGITAL INVESTMENT GROUP are
registered trademarks of New York Digital Investment Group LLC. All
rights reserved.
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version on businesswire.com: https://www.businesswire.com/news/home/20211022005110/en/
NYDIG Contact Conor Shea Edelman
Conor.shea@edelman.com
Q2 Media Contact Jean Kondo Q2 Holdings, Inc.
jean.kondo@Q2.com
Q2 Investor Contact Josh Yankovich Q2 Holdings, Inc.
josh.yankovich@Q2.com
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