Granite Bank on Leading Edge of Bringing Bitcoin to Banks
We were featured in a full-page ad in the Wall Street Journal, which showed banks on the leading edge of bringing Bitcoin to the masses. Granite Bank will be one of the first banks in the country (and likely the first in Minnesota) to allow customers to purchase Bitcoin from their bank account.
How Do I Buy Bitcoin Through Granite Bank?
Granite Bank is going to make buying Bitcoin as straightforward as moving money from checking to savings. If you have access to online and mobile banking, you will be able to initiate Bitcoin transactions at any time from anywhere. You will see your Bitcoin balance alongside your other bank account balances.
When Can I Buy Bitcoin Through Granite Bank?
The service is not yet available but anticipated to be LIVE in the Spring of 2022.
Who Can Buy Bitcoin Through Granite Bank?
New and Existing customers will have access! Please sign up to learn more and receive an email when the service is available.
The “Bitcoin Account” is in development and not yet available. The account is anticipated to launch in Spring 2022.
Bitcoin execution and custody services are provided by NYDIG Execution LLC (“NYDIG”). NYDIG is authorized by the New York State Department of Financial Services to engage in virtual currency business activity. To receive bitcoin services, you must open an account with NYDIG in which your bitcoin will be held (the “NYDIG Account”). Bitcoin balances in your NYDIG Account are not insured by the Federal Deposit Insurance Corporation (FDIC), the Securities Investor Protection Corporation (SIPC), or any other public or private insurer. NYDIG does not make any recommendations regarding buying or selling bitcoin. There are risks associated with bitcoin trading, including possible loss of value. See Terms.
Bitcoin Incentive Disclaimer
You must have or open a NYDIG Account through Granite Bank to qualify for the $10 bitcoin incentive. The amount of bitcoin credited to your NYDIG Account will depend on when your account is opened, and it may take up to 2 business days after account opening to receive the bitcoin. The amount of bitcoin earned must be held in your NYDIG Account for a minimum of 6 months during which time you may not be able to sell such bitcoin. You may be unable to close your NYDIG Account without forfeiting the bitcoin during such time. You must be eligible to open a NYDIG Account and receive any related productor service offered by your participating financial institution. Only one award per customer. Limited time offer. See NYDIG’s Terms and Conditions for additional information
Ready for Bitcoin?
Jacob leads the bank’s lending department where he’s worked extensively with small business owners, investors and entrepreneurs on creative financing solutions.