Deloitte and NYDIG Will Allow Businesses to Access Services Built on Bitcoin

Big four accounting firm Deloitte tapped Bitcoin-focused financial services firm New York Digital Investment Group (NYDIG) for a strategic alliance that aims to help companies access financial services built on Bitcoin.

• The newly formed alliance will focus on offering Bitcoin-related financial services to companies of all sizes. Its targeted areas include banking, consumer loyalty and rewards programs, employee benefit, and more.
• The official announcement has made clear that both firms will carry out a collaborative approach that leverages Deloitte’s multi-disciplinary professional services and NYDIG’s “comprehensive bitcoin financial and technology products and services.”
• As consumers are actively looking for trusted exposure to Bitcoin, the alliance will be focused on accelerating the adoption of the asset while complying with the existing regulatory framework.
• Richard Rosenthal, the practice lead of Deloitte’s digital assets banking regulatory, said:

“The future of financial services will center around the use of digital assets, and we are focused on advising our clients on ways to engage in a regulated and compliant way.”

• NYDIG is known for partnering with banks and insurance giants to offer BTC-related services. It aims to build banking on Bitcoin and let companies access such services by only dealing with a minimal amount of on-chain transactions.
• In February, it launched a program allowing employees of participating companies – Everbowl, MVB Bank, StretchZone, and more – to receive paychecks in Bitcoin. The program even allowed employees to decide how much of their salaries to be converted to BTC with no transaction fees involved.
• Deloitte’s interest in cryptocurrency is no longer a secret. The professional services giant has conducted a few surveys, noting the bullish path ahead of cryptocurrencies as a payment option in the coming years. For one, it stated that 85% of retailers expect that crypto payments “will be ubiquitous” in their respective industries by 2026