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On January 25th, 2022, Five Star Bank, a subsidiary of Financial Institutions, Inc, announced a partnership with NYDIG. Five Star Bank is a $5 billion community bank with 560 employees and operates a network of more than 45 locations in the US.
This partnership will enable the Bank’s clients to securely buy, sell, and hold Bitcoin through its banking mobile app and online banking platform. The bitcoin services are expected to roll out in the second quarter of 2022.
“We knew it was in the best interest of our customers to build upon our digital service menu in a way that better supports their interests, including an investment appetite for cryptocurrency. This is an area of the market that we have all seen grow exponentially over the last several years,” said Sean Willett, chief administrative officer, Five Star Bank.