Dunedin, Florida-based credit union Achieva has launched a platform for buying and selling Bitcoin in partnership with NYDIG.
- Achieva Credit Union partnered with Bitcoin bank NYDIG.
- The cooperative launched a Bitcoin trading app.
- The offer arises in the face of the growing curiosity of customers.
In a pioneering move, Achieva Credit Unionhas become the first credit union in the state of Florida, USA, to integrate cryptocurrencies.
As reported Tampa Baythe trading company is getting into the digital asset game with the launch of an app for trading Bitcoin. Achieve partnered with the trading and custody company of BitcoinNYDIG, which specializes in connecting traditional financial infrastructure with cryptocurrency, to carry out the initiative.
The new application of Achievewhich was launched on Tuesday this week, offers customers the ability to buy and sell bitcoin. The NYDIG team celebrated the cooperative’s push for crypto adoption.
Backed by NYDIG, @AchievaCU will become the first credit union in Florida to provide #bitcoin trading services to its members. We’re proud to continue partnering with financial institutions of all sizes to share in our mission for #BitcoinForAll. https://t.co/I6kCpWxtTL pic.twitter.com/Cd2QRQMKVK
— NYDIG (@NYDIG_BTC) June 8, 2022
Achieva: Pioneer in Bitcoin Adoption
The digital and infrastructure director of AchieveTracy Ingram pointed out that the application arises in the face of growing customer interest in cryptocurrency services.
Headquartered in Dunedin, Florida, Achieve already allowed its clients to carry out exchanges of Bitcoin in third-party applications. However, the integration of this process directly from a native application of the cooperative, will seek to provide users with easier access to these types of serviceswithout the need of third parties.
Ingram said that last year they saw their clients exchange $2.6 million worth of crypto through third-party apps. Since then, interest in these extended services has grown widely for the credit union, he explained.
They will come and call and ask, ‘What are we doing? What should we look at?’ There are many consumers who are curious about cryptocurrencies, and that is no different for our members. They are really looking for information and education on ‘What is cryptocurrency? How does it all work?’
According to the report, prior to the official launch of the app, Achieve gave employees $10 USD to buy Bitcoin as part of an education and training initiative, and NYDIG doled out another $5.
Up to date with regulation
The new application charges a 2% fee for transactions of Bitcoin, which is the only cryptocurrency it offers at the moment. On the other hand, new members who sign up for a cryptocurrency account through Achieve and NYDIG, they will be able to receive a bonus of USD $5 in Bitcoinaccording to the report.
Achieve has noted that digital currency holdings or transactions are not guaranteed by the National Credit Union Administration, which is similar to banks’ Federal Deposit Insurance Corporation. On this matter, Ingram said that the cooperative is constantly monitoring legislative developments and will adjust its programs based on regulations.
“From a compliance regulation standpoint, that’s always part of our approach, to really make sure that we’re working with the experts that know what’s coming.”, commented the director.
The movement of Achieve appears to be the latest sign of interest from US financial institutions looking to jump on the crypto bandwagon. According to a beginning of the year report who consulted senior executives of savings and credit cooperatives in the country, one of the priorities that the sector sees in terms of staying competitive, is the introduction of crypto services.
Article by Hannah Estefanía Pérez / DailyBitcoin
WARNING: This is an informative article. DiarioBitcoin is a means of communication, it does not promote, endorse or recommend any investment in particular. It is worth noting that investments in crypto assets are not regulated in some countries. May not be suitable for retail investors as the full amount invested could be lost. Check the laws of your country before investing.