Tuesday, June 6

Flushing Financial Corporation to launch bitcoin services

Even the oldest commercial banks on the American stock market join Bitcoin despite the recent volatility in the asset. As the case of Flushing Financial Corporation has reached an agreement with Bitcoin NYDIG to provide Bitcoin services to its customers, according to Siamak Masnavi en Cryptoglobe.

In its press release the bank, which is the holding matriz de Flushing Bank, announced that it has reached an agreement with the company Bitcoin NYDIG to offer Bitcoin services to its customers.

NYDIG is a subsidiaria de Stone Ridge, a holding company that has pioneered the creation of forward-thinking companies in the worlds of technology and finance. provides bitcoin products in all industries, from banking and insurance to fintech and nonprofits.

Michael Hegarty, former president of the bank, told QNS:

  • “The bank was founded by Judge Charles Colden, for whom the Colden Center at Queens College is named, and other businessmen in Flushing”
  • “The bank offered basic banking services for decades and began an ambitious expansion of both facilities and products in the late 1980s and early 1990s”
  • “The bank decided to convert from a mutual savings bank to a publicly traded corporation in 1994 to raise more capital through the sale of shares and expand its holdings”

According to the bank’s press release, John Buran, President and CEO of the bank, said the following:

“As part of our ongoing digital transformation, we recognize the importance of keeping up with emerging market trends and consumer demand for alternative financial services. By utilizing NYDIG’s innovative technology to provide seamless access through our relationship with Q2, our online banking provider, we will be able to offer our customers the ability to buy, sell and hold bitcoins. This partnership provides our customers with a fully integrated solution to transact Bitcoin in a safe and secure environment.”

Y Patrick Sells, director of innovation at NYDIG, stated:

“On behalf of NYDIG, I am pleased to welcome Flushing Bank and its customers to the bitcoin network. Consumer interest in bitcoin is growing rapidly and NYDIG has the tools and experience to help consumers community banks to satisfy that demand. Together with forward-thinking institutions like Flushing Bank, we are well on our way to achieving our mission of bitcoin for all.”

More associations

On January 25, another bank, Five Star Bank, which is a subsidiary of Financial Institutions, also announced a partnership with NYDIG, through which it “will become one of the first financial institutions in the US to allow its banking customers to buy, sell and hold bitcoins securely.”

The press release went on to say that the bank “will allow customers to make secure bitcoin transactions through your mobile banking app and online banking platform, and will help them overcome barriers to adoption, such as crypto wallets and key management, which are often traditionally through unregulated entities. Account holders of the bank are expected to “be eligible to transact bitcoin seamlessly and securely by the end of the second quarter.”

Bitcoin is trading at $36,400 and Ei indicators are still mostly bearish.

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