Allied Payment Network will integrate bitcoin payments through a partnership with NYDIG and add BTC to its balance sheet.
The official news was announced by the company, which is now aiming to offer bitcoin payments to institutions as well.
In addition, Allied Payment Network will itself make an investment in bitcoin for its corporate treasury, an operation that will be facilitated by NYDIG.
Allied Payment Network has emerged as one of the leading providers of payment systems to the financial services industries. It offers solutions for online, internet, mobile, person-to-person, account-to-account payments and to this list, it now adds bitcoin.
It will do so through NYDIG, which is a leader in providing bitcoin-based financial solutions that are fully compliant with current regulations.
In particular, their partnership is aimed at institutional clients who want to integrate bitcoin for the purposes of buying, selling and storing.
Allied Payment Network: Bitcoin, a game-changer
The decision to integrate bitcoin is due to the fact that Allied has taken note of the growth in the use of BTC. Integrating it into its payment solutions responds to the growing demand from institutions in particular. But Allied also aims to create a payment system that is both secure and easy to use.
Allied and NYDIG will also work on future projects that include the possibility of having digital payments financed in bitcoin.
Ralph Marcuccilli, founder and CEO of Allied said:
“Allied’s primary focus is to make it easier for financial institutions to provide value-based technology that differentiates them in the marketplace, attracts new depositors, retains through high engagement, and generates revenue. Providing access to bitcoin does just that, and is a game-changer for many community institutions that are struggling to compete”.
Patrick Sells, head of banking solutions at NYDIG, added:
“Our partnership with Allied will enable financial institutions to bring bitcoin to their customers in a secure, compliant way. Together with Allied, we are excited to help financial institutions compete and to help consumers get seamless access to Bitcoin via their existing trusted relationships”.
Reactions
Anthony Pompliano was among the first to comment on this news:
BREAKING: Allied Payment Network, a digital payment provider, has announced they will put bitcoin on their balance sheet.
Bitcoin is inevitable.
— Pomp 🌪 (@APompliano) July 6, 2021
Focusing on whether Allied will include bitcoin in its balance sheet items, Pompliano’s judgement is clear:
“Bitcoin is inevitable”.
Meanwhile, the price of BTC has risen back to $34,450 at the time of writing this article and has been on the rise since the announcement of the partnership between Allied and NYDIG.
