Deloitte joins forces with NYDIG to help businesses with Bitcoin adoption
The partnership is expected to improve the reliability and accessibility of Bitcoin products and services for employees and clients of both companies
By Shashank Bhardwaj
Leading global consulting firm Deloitte is collaborating with Bitcoin investment firm NYDIG to help businesses, including Fortune 500 companies, adopt bitcoin into their products and services. The partnership will bring together the interdisciplinary business consulting capabilities of Deloitte with the infrastructure and financial services provided by NYDIG that are specifically geared for Bitcoin adoption.
"We envision a world where traditional financial infrastructure works alongside digital asset infrastructure to deliver clients a best-in-class experience with the highest standards of regulatory compliance," said Yan Zhao, president of NYDIG. "We've already started the journey of bringing bitcoin to all by embedding bitcoin wallets into existing user experiences, powering bitcoin rewards programs, and enabling bitcoin-secured lending.”
According to Zhao, Deloitte is the ideal partner to help NYDIG meet consumer demand for Bitcoin infrastructure and services. Richard Rosenthal, Deloitte's digital assets banking regulatory practice lead and principal, expressed similar enthusiasm.
"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," said Rosenthal. "We believe this alliance with NYDIG will further drive business growth and is another hallmark of the extensive investment Deloitte is making in enabling digital asset innovation."
With this partnership, both companies are expected to achieve a level of trust that isn't possible with the existing infrastructure, by design. Deloitte's clients include Dell, Yamaha, Adobe, and other Fortune 500 companies. In February 2022, NYDIG launched a benefits program allowing employees to convert a portion of their paychecks into Bitcoins. In late 2021, NYDIG had also raised $1 billion in equity investment, bringing the company's valuation to around $7 billion.
Shashank is the founder at yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash