Allied Payment Partners NYDIG, Adds Bitcoin To Corporate Treasury

Asad Gillani

1 year ago

3 mins read

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One latest news making rounds in the crypto space is the new partnership between the digital payment platform-Allied Payment Network, and the Bitcoin subsidiary of Stone Ridge, a $10 billion alternative asset manager called NYDIG.

The latest developments come with the addition of Bitcoin to the former Corporate Treasury.

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

Allied Payment Network is the industry’s most progressive online and mobile bill payment service provider to banks and credit unions. The Allied Payment Network is seeking to increase its business scope, and market comprehensibility has gone crypto.

Following many others, the digital financial platform openly declared its intention to cooperate with NYDIG and at the same time moved to utilize the crypto-power by including Bitcoin on its balance sheet.

What Allied Payment Network Stands To Gain Through Bitcoin Adoption

An increasing number of companies worldwide are using Bitcoin and other digital assets for a host of investments.

The BTC price is trading sideways on the daily chart | Source: BTCUSD on TradingView.com

This could be for operational and transactional purposes. Of course, just like every business horizon, there are unknown dangers, but there are far strong incentives to gain.

The benefits Allied stands to gain include:

● Better security in operations

● Low fees

● Swift and easy payment

● Decentralized advantage

● Universal recognition

Explaining these, the adoption of cryptocurrencies that are digital and encrypted will ensure that Allied is repaid from the generation of bogus copies, as against the traditional payment methods where this is possible.

Again, no cryptocurrency transactions carry personal data about the user; thus, privacy is now sacrosanct.

Talking about the economy of BTC adoption, users of the platform can eliminate middlemen like brokers and lawyers from the arena, who usually charge service fees on transactions.

Now, again, the speed and accuracy of transactions will be improved upon, as users of the platform can just make use of the other person’s address to transfer funds.

With this, the processing time is almost negligible, and the whole transaction is completed in a matter of seconds.

Decentralization is one notable feature of Bitcoin. Thus, users of the payment platform can now always control their currency units, as there is no central authority in the network.

Lastly, digital currency is gaining worldwide momentum each day, as many are already joining the party; this includes government bodies – El Salvador’s story is well and alive.

NYDIG And The Benefit Of Partnering

A newly disseminated press release says that the provider of digital payments Allied Payment Network has inked a partnership deal with NYDIG.

NYDIG is a leading technology and financial services firm dedicated to Bitcoin. The financial platform is aligned with the mission of safely unlocking the power of BTC through technologies and financial services that enable forward-thinking companies and investors to access this asset class.

Partnering with it will facilitate the BTC adoption drive, as clients of financial institutions are enabled to purchase, sell and hold Bitcoin. This is made possible with Allied Payment Network having its Bitcoin in an NYDIG-enabled corporate treasury.

Thus, the company will become the first-ever payment provider that will introduce Bitcoin in its platform and enable financial institutions to offer it to their clients.

Featured image from Pixabay, chart from TradingView.com

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