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Wolters Kluwer and NYDIG launch risk assessment offering for Bitcoin programs

Tuesday 15 March 2022 13:54 CET | News

Wolters Kluwer and NYDIG has launched Bitcoin Risk Assessment – NYDIG Clients to provide regulatory assessments for financial institutions looking to offer their customers access to Bitcoin services provided by NYDIG.

According to a 2021 Bitcoin & Banking survey commissioned by NYDIG, 71% of Bitcoin holders said they would switch their primary bank to one that offered Bitcoin-related products alongside traditional banking services.

The Risk Assessment evaluates a financial institution’s control environment related to its participation in the NYDIG Bitcoin platform. As part of the assessment, clients receive a report on how the findings fit within a range of established, relevant controls, providing clients a clearer picture of their Bitcoin activities. This helps the financial institution understand if its current controls will allow it to fulfill the relevant regulatory standards for offering Bitcoin products and services.

Wolters Kluwer is a provider of risk management and regulatory compliance solutions and services to US insurers, banks and credit unions, and securities firms. The business, which sits within Wolters Kluwer’s Governance, Risk & Compliance (GRC) division, helps these financial institutions manage risk and regulatory compliance obligations, and gain the insights needed to focus on serving their customers. 


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Keywords: partnership, regulation, risk management, Bitcoin, financial institutions
Categories: DeFi & Crypto & Web3
Companies: NYDIG, Wolters Kluwer
Countries: Netherlands
This article is part of category

DeFi & Crypto & Web3

NYDIG

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Wolters Kluwer

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