STAR Bank deploys NYDIG’s Bitcoin solution as banks take over

Rick Steves

Financial institutions are increasingly finding digital assets as a path to generate new, non-interest income and an additional opportunity to retain and attract customers and their deposits.

Alkami has signed STAR Bank as its first client to deploy Bitcoin trading capabilities, including the purchase, sale, and secure storage of bitcoin.

The product offering is powered by Bitcoin trading specialist NYDIG, which has recently been added to Alkami’s Gold Partnership Program providing proven third-party solutions on the Platform.

Alkami is a cloud-based digital banking solutions provider for U.S. banks and credit unions and STAR Bank is the first bank in the state of Indiana to offer bitcoin trading services to customers.

STAR Bank accessed the NYDIG regulated, full-stack bitcoin platform via Alkami in order to provide its customers with the option to buy, sell, and hold bitcoin alongside traditional accounts.

Brian Avery, vice president, technology and digital strategy at STAR Bank, said: “STAR Bank is committed to providing personalized banking solutions through the innovative use of technology to support people on their financial journey. We want our customers to feel confident and competent engaging with emerging investment opportunities. That’s why we are excited to offer fully integrated bitcoin services in our mobile app leveraging the robust Alkami Platform.”

Stephen Bohanon, founder and chief strategy and sales officer at Alkami, commented: “Alkami helps financial institutions achieve digital banking success by delivering the most advanced cloud-based digital banking platform on the market. Early technology adopters appreciate the importance of embracing Bitcoin opportunities. We are privileged to help STAR Bank remain on the forefront of digital banking by providing their valued customers with a streamlined entry ramp to buy, sell, and manage bitcoin under the trusted STAR brand.”

Patrick Sells, chief innovation officer at NYDIG said: “Being able to log into the STAR mobile app and purchase bitcoin is simply a game-changer and means the future of bitcoin and banking has now arrived. Personally, this is a deeply satisfying accomplishment as STAR Bank was my hometown bank growing up in Indiana. I couldn’t be more excited for STAR, the Hoosiers they serve, and the amazing platform Alkami has built.”

Financial institutions are increasingly finding digital assets as a path to generate new, non-interest income and an additional opportunity to retain and attract customers and their deposits.

NYDIG not only offers the banking industry the opportunity to provide bitcoin products and services in a manner that meets the highest regulatory standards but also allows them to compete with cryptocurrency exchanges and wallets from the flourishing asset class.

Read this next

Digital Assets

EOS Network Foundation rebrands EOSIO protocol as Antelope

The EOS Network Foundation (ENF), the new entity entrusted by the EOS community to develop its core blockchain software, said Antelope protocol will fork from EOSIO 2.0 and make “a leap for freedom.”

Digital Assets receives FCA greenlight to operate in the UK, one of the longest-established crypto platforms, has received a regulatory go-ahead to launch its services in the UK.

Retail FX

Plus500 reports $511.4 million revenue for the first semester 2022

Plus500 today has published its interim financial results for the first six months of its fiscal year 2022.

Digital Assets

AAX ranked among top crypto exchanges by CoinGecko and CryptoCompare

CoinGecko, one of the earliest crypto data aggregators, has ranked Atom Asset Exchange (AAX) as one of the most trusted cryptocurrency trading platforms. This milestone comes hot on the heels of AAX being recognized as the world’s second largest crypto exchange by spot trading volumes.

Retail FX

Financial Commission adds FX broker Bold Prime to membership roster

The Financial Commission today announced that it has added Bold Prime to its member roster, which is made up of online brokerages operating in FX, derivatives and cryptocurrency markets.

Digital Assets

Despite crypto winter, Cake DeFi paid out $58 million in Q2 rewards

According to its latest ‘Transparency Report,’ Cake DeFi continued its growth trajectory in the three months through June 2022, even as the entire crypto industry experienced macro challenges this quarter.

Retail FX

SimpleFX Review: Cryptos, Spreads, Pros & Cons

SimpleFX combines years of Forex and cryptocurrency experience with a focus on offering resources to retail traders. 

Retail FX

Ironbeam becomes CME clearing member and launches MT5

“The direct clearing aspect along with our low-latency proprietary trading tools and technology solutions make Ironbeam the ideal trading destination.”

Institutional FX

Top 0.07%: oneZero makes it to Inc. 5000 of fastest growing companies in America

oneZero started out by serving the foreign exchange trading community, developing and executing technology that could scale with the growth of the FX market.