Deloitte and NYDIG set up alliance to help businesses adopt Bitcoin

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Professional services giant Deloitte is getting increasingly serious about Bitcoin (BTC) amid the ongoing market downturn, as it has launched a major initiative to boost BTC adoption.

Deloitte has partnered with Bitcoin-focused financial services firm New York Digital Investment Group (NYDIG), to help companies of all sizes implement digital assets.

According to a joint announcement on Monday, NYDIG and Deloitte are launching a strategic alliance to create a centralized approach to clients seeking advice on the adoption of Bitcoin products and services.

The companies will work together to enable blockchain and digital asset-based services across multiple domains of Bitcoin-related products, including banking, loyalty programs, rewards, employee benefits, and more.

According to the announcement, global financial institutions and banks have faced a growing demand to provide reliable exposure to bitcoin. The alliance between Deloitte and NYDIG aims to help accelerate adoption while ensuring compliance, said Richard Rosenthal, Head of Digital Asset Banking Regulatory Practices at Deloitte, adding:

“The future of financial services will be centered around the use of digital assets, and we are focused on advising our clients on ways to participate in a structured and compliant manner.”
Rosenthal told Cointelegraph that the partnership became active on June 21. The launch comes amid a significant drop in cryptocurrency prices, with bitcoin losing about 50% of its value since the start of 2022. “We are taking a longer view and expect many companies to continue building their digital infrastructure and products.”

The news comes months after NYDIG launched a benefits program that would allow employees to transfer a portion of their salaries to Bitcoin in February 2022. The company previously raised $1 billion in equity investment in late 2021, bringing NYDIG’s valuation to nearly $7 billion.

Deloitte is one of the “Big Four” accounting firms that have grown in interest in cryptocurrencies like Bitcoin in recent years, actively exploring the role of Bitcoin and other digital assets in the global economy.

Related Topics: Top 30 Banks in Panama That Are “Bitcoin Friendly,” Welcome Crypto Services

In June, Deloitte published a survey that found 75% of US retailers plan to accept crypto or stablecoin payments within the next two years. Deloitte published another study in March that highlights Bitcoin’s potential as a base for creating a cheaper and faster cryptocurrency or central bank digital currency ecosystem.

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