Crypto Corner Episode 584: Stocks discussed: (TSX: $GLXY.TO) (NasdaqGS: $BTBT) (NasdaqGS: $EQOS)
NYDIG Partnership Could Bring BTC to US Banks, Galaxy Digital to Acquire BitGo, Bit Digital Joins Foundry USA Pool, and Digivault Partners with Torstone Technology
Point Roberts, WA and Delta, BC - May 5, 2021 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news brings you today's edition of the Crypto Corner podcast and commentary on what's driving cryptocurrency stocks and the crypto market.
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Crypto Corner Episode 584: Stocks discussed: (TSX: $GLXY.V) (NasdaqGS: $BTBT) (NasdaqGS: $EQOS)
Stocks discussed: (TSX:GLXY) (NasdaqGS:BTBT) (NasdaqGS:EQOS)
A report from CNBC today indicates that the New York Digital Investment Group (NYDIG), a crypto custody firm, "has partnered with fintech giant Fidelity National Information Services to enable U.S. banks to offer bitcoin (BTC) in coming months." NYDIG President Yan Zhao explained:
"This is not just the banks thinking that their clients want bitcoin, they're saying `We need to do this, because we see the data.' They're seeing deposits going to the Coinbases and Galaxies and Krakens of the world."
"The acquisition of BitGo establishes Galaxy Digital as a one-stop-shop for institutions and significantly accelerates our mission to institutionalize digital asset ecosystems and blockchain technology. The power of the technology, solutions, and people we will have as a result of this acquisition will unlock unique value for our clients and drive long-term growth for our combined business. We are excited to welcome Mike Belshe and the talented BitGo team to Galaxy Digital."
Crypto mining firm Bit Digital, Inc. (NasdaqGS:BTBT) has joined Digital Currency Group (DCG) subsidiary Foundry Digital LLC in the latter's Foundry USA Pool with approximately 5,679 mining machines generating up to 280 PH/s of computing power. According to the press release, the Pool aims to be "among the world's top 5 Bitcoin mining pools," and focuses on institutional mining businesses.
Digivault, the digital asset custody provider and custodial arm of Diginex Limited (NasdaqGS:EQOS), has partnered with Torstone Technology, a leading SaaS provider of post-trade securities and derivatives processing, "to provide Digivault's clients with enhanced post-trade services while enabling Torstone Technology's customers access to digital asset custody solutions." Digivault's CEO, Robert Cooper, said:
"Our partnership with Torstone offers financial institutions assurance that their post-trade operations, including custody, are being managed safely while meeting regulatory standards. This transparency and the ability to simply manage cryptocurrency back-office processes alongside traditional assets is becoming an essential capability for investors and is a window into the future of investment."
Sam Mowers, Investorideas
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