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MVB to let fintech clients offer Bitcoin-related products

MVB Financial in Fairmont, W.Va., has entered into a partnership to allow its fintech clients to offer Bitcoin-related products. 


The $2.7 billion-asset company said in a press release Tuesday that the collaboration with Victor Technologies and NYDIG, will integrate Bitcoin into MVB’s Banking-as-a-Service (BaaS) offerings.

MVB has more than 50 fintech, payments and gaming clients. 

“NYDIG has a vision to make Bitcoin more accessible,” Larry Mazza, MVB’s president and CEO, said in the release. “Adding Bitcoin functionality … will propel that vision into reality and help our clients compete.”

“Our partnership with MVB represents an important milestone for Bitcoin,” Patrick Sells, NYDIG’s chief innovation officer, said in the release.

“Up to this point, only a select few fintech companies have been able to offer Bitcoin products and services, and it has been difficult to achieve,” Sells added. “Now the industry has its first turnkey platform to seamlessly deliver white-label banking and Bitcoin products side by side.”

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The Bank Slate

INSIGHTS INTO THE BANKING INDUSTRY

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About the author

Paul Davis has 20+ years of experience following the banking industry. He is currently director of market intelligence at SRM, an advisory firm that operates in North America and Europe.

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