• Idaho’s largest credit union has incorporated Bitcoin services into its platform.

    Customers of Idaho Central Credit Union can now buy, sell, and hold BTC directly from their bank accounts.

    The largest credit union in Idaho, United States, has integrated Bitcoin services into its banking platform, allowing its customers to buy, sell, and hold BTC within their accounts. The new feature was made possible by a collaboration between Alkami Technology Inc., the digital banking solutions provider for Idaho Central Credit Union (ICCU), and institutional bitcoin broker NYDIG.

    “ICCU’s focus on member experience and providing a diverse array of solutions has allowed it to build a reputation as one of the nation’s leading credit unions, and its decision to implement bitcoin services through NYDIG and the Alkami Platform can supercharge that growth,” said Patrick Sells, chief innovation officer at NYDIG.

    Alkami provides cloud-based banking solutions to banks and credit unions in the United States. The company added NYDIG to its Gold Partner Program in June to allow its institutional clients to easily add bitcoin purchasing and selling capabilities to their platform. ICCU is the latest institution to reap the benefits of the collaboration by incorporating Bitcoin services into its platform, allowing its customers to buy, sell, and hold the asset.

    On the back end, NYDIG will provide bitcoin trading and custody services, allowing ICCU customers to gain exposure to the price of Bitcoin in US dollars. Because of the custodial aspect of the feature, ICCU clients will be unable to take their purchased BTC into self-custody, which is a significant disadvantage for those seeking the financial independence enabled by Bitcoin. As a custodian, NYDIG will effectively issue a bitcoin IOU to ICCU account holders.

    The new feature acts as a convenient on-ramp for hesitant customers looking to gain their first exposure to bitcoin. However, investors are naturally incentivized over time to purchase and custody bitcoin themselves, as this is the only way to truly enjoy Bitcoin’s value proposition of freedom and sovereignty.

    What's your reaction?