NYDIG Allows Members to Buy, Sell Bitcoin But CUs Should Recognize Risk

NYDIG, a digital asset management firm, has partnered with the nation’s largest online banking solution providers to allow account holders to buy, sell and hold bitcoin. Credit union members can now trade bitcoin through online banking and
mobile banking channels. Offering this service to members significantly increases a credit union’s exposure to account takeovers. 

New York Digital Investment Group, LLC (NYDIG) - a digital asset management firm specializing in bitcoin - has partnered with the nation’s largest online banking solution providers, including Alkami, FIS, Fiserv, NCR, and Q2, to allow individual
investors to buy and sell bitcoin through online and mobile banking channels. Rather than going through a cryptocurrency exchange to buy and sell bitcoin, members can now buy and sell bitcoin through the credit unions’ online and/or mobile banking channels.

Offering this service to members significantly increases the risk of account takeovers involving the unauthorized sale / redemption of members’ bitcoin holdings.

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