NYDIG Expects Bitcoin (BTC) Mass Adoption By Major Companies, VISA Plans to Enter Crypto Business

After tanking around 10% from its all-time high above $61,600 levels, Bitcoin (BTC) is now consolidating around $55,000 levels. At press time, BTC is trading at a price of $55,192 with a market cap of $1.02 trillion.

While Bitcoin (BTC) has been trading on the sidelines, Robby Gutmann, CEO of Bitcoin investment firm NYDIG said that we are on the brink of Bitcoin mass adoption. During his recent interview at On-The-Brink podcast earlier on Monday, March 15, said that there are some major announcements in line from the firm’s traditional partners.

“I know starting more or less next week, you’re going to see an absolute drumbeat of pretty game-changing milestones from some of these firms,” said Gutmann. Last week on March 8, NYDIG secured $200 million in funding from some of the very big players in the financial place including MassMutual, New York Life, Morgan Stanley, FS Investments, and Soros Fund Management.

Gutmann hasn’t disclosed the names of the partners set to take the market by storm. However, he added that these players could provide greater access to Bitcoin (BTC) for the wider public along with other products and services.

One of the products that NYDIG offers to its clients is “Corporate Treasury”. This product makes it easy for corporations to hold Bitcoin. “[The announcements] are going to mark progressively new points in Bitcoin adoption, Bitcoin availability, Bitcoin products and services within the existing traditional financial landscape,” said Gutmann.

Last month, NYDIG also filed for a Bitcoin ETF with the U.S. Securities and Exchange Commission (SEC). It looks like NYDIG is preparing for solutions to attract big players to the market.

In another news, VISA CEO Al Kelly told that they are willing to enter the crypto business as digital currencies are getting mainstream adoption. Kelly also disclosed the company’s crypto strategy during a podcast interview with Fortune's Leadership Next.

During the interview, Kelly said: “We’re trying to do two things. One is to enable the purchase of bitcoin on Visa credentials. And secondly, working with bitcoin wallets to allow the bitcoin to be translated into a fiat currency and therefore immediately be able to be used at any of the 70 million places around the world where Visa is accepted.”

Kelly also stressed that digital currencies like stablecoins have a strong “potential” as the payments landscape is evolving. “These are currencies that are fiat-backed, but we’re allowing this translation, if you will, into a fiat currency and in a wallet where there’s a Visa card and again that Visa card can be used with the translated digital currency over to the fiat currency to purchase at any one of our 70 million locations," he said.