Five Star Bank and UNIFY Financial Credit Union will be the first banks to offer their customers the ability to buy, sell, and hold Bitcoin, said Digital banking company Q2 Holdings.
This has been made possible by Q2’s partnership with institutional bitcoin broker NYDIG. The partnership was first announced in June to meet the demands of the bank’s account holders.
At the time, NYDIG also partnered with digital banking services firm NCR to make crypto purchases available to 650 banks.
Q2, a Texas fintech firm that has 18.3 million users, provides online banking software to more than 450 small and medium-sized banks and credit unions, including Scotiabank, Mercantile Bank, and Texas Security Bank.
Finally, this partnership has come to fruition as the everyday customers of these two banks will be able to trade and hold Bitcoin alongside their existing accounts without needing to use the cryptocurrency exchanges.
The New York-based Five Star Bank has about 50 branches, and California-headquartered UNIFY has 50 branches worldwide with more than $3 billion in assets.