A company called Allied payment network has just added Bitcoin to its balance sheet in partnership with NYDIG.
“Allied Payment Network is the industry’s most progressive online and mobile bill payment service provider to banks and credit unions,” writes Asad Gillani at NewsBTC. “The Allied Payment Network is seeking to increase its business scope, and market comprehensibility has gone crypto. Following many others, the digital financial platform openly declared its intention to cooperate with NYDIG and at the same time moved to utilize the crypto-power by including Bitcoin on its balance sheet.”
A few weeks ago, NYDIG made headlines in working with Q2 to deliver Bitcoin on-ramps related to the bank accounts of depositors.
Now, with its assistance, Allied is joining such notable companies as Microstrategy in making Bitcoin a treasury reserve asset. Among the benefits to the company enumerated by Gillani are: better cybersecurity, lower fees, and quick transaction capabilities.
“The adoption of cryptocurrencies that are digital and encrypted will ensure that Allied is repaid from the generation of bogus copies, as against the traditional payment methods where this is possible. Again, no cryptocurrency transactions carry personal data about the user; thus, privacy is now sacrosanct.”
“Bitcoin is a deflationary asset,” adds Chris at Finxter. “As Bitcoins get lost over time, the supply is even shrinking. If an inflationary asset meets a deflationary asset, the deflationary asset will grow in terms of the inflationary asset. This is textbook economics. And Bitcoin is the most scarce digital asset. It is digital gold.”
Growing the list of companies with exposure to BTC in their ledgers, Allied is an example of how this phenomenon is spreading among a diverse set of adopters. Look for more as the “era of Bitcoin” unfolds. Institutional buy-in is an incredibly important aspect of where BTC is due to go next, and despite some negging from Elon Musk, we may well see spikes this week or in the near future.