On Tuesday, New York Digital Investment Group, or NYDIG, a financial institution specializing in Bitcoin financial services such as savings accounts, brokers, 401 (k) s, etc., announced that it had achieved a $ 1 billion capital investment led by WestCap. The financing brings its valuation to almost $ 7 billion.
The company has proven popular with institutional investors. Last year, Stone Ridge, a $ 10 billion asset manager, purchased 10,000 Bitcoins (BTC) through NYDIG’s services. NYDIG is also poised to bring BTC adoption to more than 650 banks and credit unions in the United States, as well as to enable the purchase and sale of BTC for 18 million US bank customers. Additionally, NYDIG has consistently launched new rounds of funding over the past two years, with USD 100 million raised in April Y USD 200 million in March.
Apart from the institutional interest, The company is also expanding its presence in a partnership with the NBA’s Houston Rockets announced last month. NYDIG will pay the team in BTC on the terms. Also in November, The company announced the USD 300 million acquisition of Bottlepay, whose technology allows the transfer of small payments or microtransactions of BTC and national currencies in the United Kingdom and the European Union.
NYDIG has raised $ 1 billion to accelerate growth & enhance its institutional-grade Bitcoin platform to support Lightningâš¡ï¸ ?? payments, asset tokenization, and smart contracts. @NYDIG_BTC‘s mission is #Bitcoin for All. https://t.co/S5iHOOsNKa
– Michael Saylorâš¡ï¸ ?? (@saylor) December 14, 2021
NYDIG has raised $ 1 billion to accelerate growth and enhance its institutional-grade Bitcoin platform to support Lightning payments, asset tokenization, and smart contracts. NYDIG’s mission is Bitcoin for everyone.
Scott Ganeles, WestCap partner, issued the following statement regarding the event:
“NYDIG plays a unique role in the industry, enabling businesses of all types to safely and compliantly incorporate Bitcoin. We are proud to partner with Robby and his excellent NYDIG team as they forge new avenues of accessibility and accelerate even further. plus the adoption of Bitcoin. “
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