NYDIG and Q2 Announce Collaboration to Offer Integrated Bitcoin Solutions for Financial Institutions via Q2’s Digital Banking Platform

Rhea-AI Summary

Q2 Holdings, Inc. (NYSE:QTWO) has announced a collaboration with NYDIG to enable the platform's 18.3 million registered users to buy, sell, and hold Bitcoin. Q2’s flexible digital banking platform serves nearly 30% of the top 100 U.S. banks. By integrating NYDIG’s secure Bitcoin services, Q2 aims to enhance customer engagement and drive fee revenue opportunities. A December 2020 survey indicates that 15% of U.S. consumers own cryptocurrency, with many preferring to transact via their banks. This partnership positions Q2 to meet market demands for digital currency.

Positive

• Collaboration with NYDIG to integrate Bitcoin services enhances user engagement.
• Access to Bitcoin may drive fee revenue opportunities for Q2's financial institution clients.
• Q2's platform serves nearly 30% of the top 100 banks in the U.S., providing a solid user base.

Negative

• None.

NYDIG, a leading technology and financial services firm dedicated to Bitcoin, and Q2 Holdings, Inc. (NYSE:QTWO), a leading provider of digital transformation solutions for banking and lending, today announced they will collaborate to provide the more than 18.3 million registered users on the Q2 platform with the ability to buy, sell and hold Bitcoin.

Q2’s flexible, modern, and open digital banking platform currently powers nearly 30 percent of the top 100 banks in the U.S. and enables one out of 10 digital banking customers to transact and engage via cloud-based digital solutions anytime, anywhere and on any device.

By leveraging NYDIG’s secure, regulated Bitcoin platform, Q2’s financial institution clients will be able to provide their customers with integrated Bitcoin services and further drive end-user acquisition, retention and engagement, while increasing fee revenue opportunities.

“According to a December 2020 study by Cornerstone Advisors, 15 percent of U.S. consumers own Bitcoin or some other form of cryptocurrency,” said Jonathan Price, EVP of Emerging Business, Corporate and Business Development, Q2. “The consumer survey also revealed that the majority of these crypto owners would use their banks to invest in cryptocurrency if they had the choice to do so. We are excited to work with NYDIG to enable financial institutions to take advantage of this market opportunity and meet the demands of their account holders.”

Robert Gutmann, co-founder and CEO of NYDIG, said, “NYDIG is proud to collaborate with Q2 to deliver on our shared mission of helping banks, credit unions and fintechs provide innovative and seamless access to Bitcoin. The work we will do together will be key to making Bitcoin as easily accessible as possible through incumbent financial institutions, enabling the continued growth of the Bitcoin network.”

Source: Cornerstone Advisors Survey of 3,898 consumers, December 2020

About NYDIG

NYDIG provides Bitcoin technology and financial services solutions to banks, insurers, corporations, and institutions. The firm and its products meet the industry’s highest regulatory, audit, and governance standards. Learn more at nydig.com, or connect on LinkedIn and Twitter.

About Q2 Holdings, Inc.

Q2 is a financial experience company dedicated to providing digital banking and lending solutions to banks, credit unions, alternative finance, and fintech companies in the U.S. and internationally. With comprehensive end-to-end solution sets, Q2 enables its partners to provide cohesive, secure, data-driven experiences to every account holder – from consumer to small business and corporate. Headquartered in Austin, Texas, Q2 has offices worldwide and is publicly traded on the NYSE under the stock symbol QTWO. To learn more, please visit Q2.com.

NYDIG, NY\DIG, and NEW YORK DIGITAL INVESTMENT GROUP are registered trademarks of New York Digital Investment Group LLC. All rights reserved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210623005896/en/

FAQ

What is the collaboration between Q2 Holdings and NYDIG?

Q2 Holdings and NYDIG are collaborating to enable Q2's over 18.3 million registered users to buy, sell, and hold Bitcoin.

How many banks does Q2 Holdings serve?

Q2 Holdings powers nearly 30% of the top 100 banks in the U.S.

What user base does Q2 Holdings have for its digital banking services?

Q2 Holdings has over 18.3 million registered users on its digital banking platform.

How will the partnership with NYDIG impact Q2 Holdings' revenue?

The partnership is expected to drive fee revenue opportunities for Q2's financial institution clients through integrated Bitcoin services.

What market demand does Q2 Holdings aim to meet with its new services?

Q2 aims to meet the increasing demand for cryptocurrency services among consumers, as indicated by surveys showing many would prefer to invest in Bitcoin through their banks.