Through the New York State Department of Financial Services (DFS) granting its virtual currency license, NYDIG has been allowed to offer liquidity and asset management services to New York residents. DFS has also granted the NYDIG Trust Company – a subsidiary to the main entity – permission to operate as a limited purpose trust company. Therefore, NYDIG is now able to offer custody and trade execution services, including services for bitcoin, bitcoin cash, ether, XRP and litecoin.
These services include self-custody, contracting with a third party to offer custodial services or contracting with NYDIG Trust or NYDIG Execution directly for custody services. NYDIG becomes the 14th institution to receive the virtual currency license, which has now been given to payments startups, crypto exchanges and a bitcoin ATM firm, among others.
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