Leading financial service company First Foundation (NASDAQ:FFWM) today, April 20, 2021, announced via a press release that it has entered a strategic partnership with famous Bitcoin firm NYDIG.
Albeit based on undisclosed terms, the partnership according to the press release will enable First Foundation and NYDIG to join forces in providing and connecting the infrastructure and technologies needed to offer the financial service company’s clients seamless and efficient access to all Bitcoin-related financial services and products.
Speaking on this consortium, CEO of First Foundation, Scott F. Kavanaugh, revealed that digital assets like Bitcoin are a key aspect of the financial service company and that they [First Foundation] are elated to be part of this partnership that will see them meet the growing needs of clients, which is ostensibly their core vision.
NYDIG as one of the pioneer Bitcoin service firms is at the forefront of this industry from a security and regulatory outlook and this partnership will establish First Foundation as a Bitcoin-friendly company leveraging the trillion-dollar crypto market.
This consortium is the first of its kind and according to various experts will drive mass Bitcoin adoption. With Bitcoin price already in a dip, this partnership has been regarded as a bullish move.