One of the latest news to make the rounds in the crypto space is the new partnership between digital payments platform Allied Payment Network and Bitcoin subsidiary of Stone Ridge, a $ 10 billion alternative money manager called NYDIG.
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The latest developments come with the inclusion of Bitcoin in the former corporate treasury.
BREAKING: Allied Payment Network, a digital payments provider, has announced that it will add Bitcoin to its balance sheet.
Bitcoin is inevitable.
– Pomp (@APompliano) July 6, 2021
Allied Payment Network is the industry’s most advanced online and mobile payment service provider for banks and credit unions. The Allied Payment Network is trying to expand its business scope, and the market intelligibility has become crypto.
After many others, the digital finance platform openly declared its intention to partner with NYDIG while also moving to harness the power of crypto by including Bitcoin on its balance sheet.
Which Allied Payment Network can win from the introduction of Bitcoin?
More and more companies around the world are using Bitcoin and other digital assets for a variety of investments.
The BTC price is trading sideways on the daily chart | Source: BTCUSD on TradingView.com
This can be done for operational and transactional purposes. Of course, as with any business horizon, there are unknown dangers, but there are far more powerful incentives to win.
Some of the benefits the allies enjoy include:
● Better operational safety,
● Low fees,
● Fast and easy payment,
● Decentralized benefit and
● Universal recognition
To explain this, the introduction of digital and encrypted cryptocurrencies will ensure that Allied is paid back from creating counterfeit copies, as opposed to traditional payment methods where possible.
Again, no cryptocurrency transactions contain any personal data about the user; Hence, privacy is now inviolable.
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In terms of the economics of BTC adoption, users of the platform can eliminate middlemen such as brokers and lawyers from the arena who normally charge service fees on transactions.
Again, the speed and accuracy of transactions is improved as the platform users can transfer money just like the other person’s address.
As a result, the processing time is almost negligible and the entire transaction is completed in seconds.
Decentralization is a notable feature of Bitcoin. This means that users of the payment platform can now control their currency units at any time, as there is no central instance in the network.
After all, the digital currency is gaining momentum worldwide every day as many are already joining the party. this includes government agencies – the history of El Salvador is good and alive.
NYDIG and the benefits of partnership
A recent press release stated that digital payments provider Allied Payment Network has signed a partnership agreement with NYDIG.
NYDIG is a leading technology and financial services company specializing in Bitcoin. The financial platform is aligned with the mission to securely unlock the power of BTC through technologies and financial services that enable future-oriented companies and investors to access this asset class.
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Partnering with him will make the adoption of BTC easier as customers of financial institutions can buy, sell and hold Bitcoin. This is made possible by the fact that Allied Payment Network has its bitcoins in a NYDIG-enabled company register.
This will make the company the first payment provider ever to introduce Bitcoin to its platform and enable financial institutions to offer it to their customers.
Featured image from Pixabay, chart from TradingView.com