FIS & NYDIG Open Bitcoin Floodgates for Banks

FIS is partnering with NYDIG to allow customers of its bank clients to buy, sell and hold cryptocurrency through their bank accounts.

article-image

Blockworks exclusive art by Axel Rangel

share

key takeaways

  • FIS’ venture arm made a strategic investment in NYDIG
  • FIS competitor Fiserv is working on similar capabilities

Bank technology provider FIS is partnering with NYDIG to allow customers of its bank clients to buy, sell and hold cryptocurrency through their bank accounts.

As part of the agreement, FIS’ venture arm has made a strategic investment in NYDIG, the digital asset subsidiary of Stone Ridge Asset Management, for an undisclosed sum, according to a Wednesday press release.

“We believe that digital assets that have a well-defined offering that is also highly regulated should be part of each bank’s ecosystem rather than just a standalone solution offered by various fintechs,” Rob Lee, FIS head of Global Core Banking and Channels, told Blockworks by email. “Our core banking and digital relationships with many banks well positions FIS to ensure our banking clients retain these deposits and provide value-added services as part of their integrated offering.”

Lee also said FIS has discussed providing the ability to accrue interest on banking clients’ bitcoin balances and “will be maturing ideas with NYDIG over the coming weeks.”

“As demand for bitcoin as a store of value continues to grow, FIS is focused on enabling our core banking clients to respond to growing market demand and better serve their customers,” Rob Lee, head of global core banking and channels for FIS, said in a Wednesday press release. “Unlocking these capabilities for financial institutions of all sizes levels the playing field for banking with bitcoin and can drive further innovation.”

FIS competitor Fiserv is working on similar capabilities. Last month First Foundation, a holding company whose subsidiaries include a wealth management firm and a bank, began working with Fiserv to allow customers to buy, sell and hold bitcoin through its own banking platform. First Foundation also made a strategic investment in NYDIG, which provides bitcoin investment and technology solutions to insurers, banks, corporations, institutions and high net worth individuals.

But while Fiserv’s client base comprises mostly small banks and credit unions, FIS serves bigger banks, where pressure to step up modernization efforts and adapt the fintech and digital finance trends are greater.

The moves from FIS and Fiserv come as the largest banks in the US grapple with increasing client demand for bitcoin and other digital assets. Institutions including JPMorgan Chase, Morgan Stanley and Goldman Sachs have begun making various bitcoin products available, but to only their wealthiest clients.

Additionally, Visa now provides an API for its bank customers, in partnership with Anchorage, to allow consumers to buy, sell and hold bitcoin through their banks’ existing platforms.

“Where cryptocurrencies are highly regulated and supplemented with crypto education, we think cryptocurrency can play a role in financial inclusion going forward,” Lee added. “FIS and NYDIG are helping to level the playing field to offer to all retail banking customers access to the most mature digital asset — bitcoin. It is no longer an asset offered solely to high net worth individuals or institutional clients.”

This story was updated at 5:05 p.m. EDT.

Tags

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research Report Templates (1).jpg

Research

Jupiter has emerged as the undisputed liquidity backbone of Solana, commanding over 90% of spot DEX aggregation and 80% of perp trading volume. But behind the numbers lies a far more ambitious play: a cross-chain, vertically integrated super-app spanning swaps, synthetics, NFTs, memecoins, and launchpads. This report explores Jupiter’s rapid rise, the monetization upgrades reshaping its revenue profile, and the risks that could unwind its dominance, from token dilution to competition. With annualized revenues nearing $300M, the upside is undeniable, if it can navigate the turbulence.

article-image

Immutable has been building a game with Ubisoft that was slated to unveil in April. It may be a TCG.

article-image

Curve founder Michael Egorov is working on a new protocol designed to eliminate impermanent loss, rethink token emissions, and capture BTC-native yield

article-image

Mining outfits have gone bust in the wake of prior halvings. Not so this time around.

article-image

Zora’s announcement that its token is for “fun only” sparked a debate about the need for such tokens

article-image

In recent weeks, Helium has hit new all-time highs while passing major protocol milestones

article-image

Financial advisers in a January survey said equity ETFs were their top choice for gaining crypto exposure in 2025