Through a partnership with NYDIG, a cryptocurrency company, Achieva Credit Union members can now transact bitcoin on the Dunedin-based financial institution’s mobile app.
In a press release about the deal, Achieva says it is Florida’s first credit union to provide cryptocurrency trading services to its members.
“Over the past year, we have noticed that our members have traded over $2.6 million worth of cryptocurrency through popular trading platforms,” says Achieva’s Director of Digital and Infrastructure Credit Union in the release. “It was clear that many members wanted to get involved in crypto, and we felt it was time to provide access to bitcoin from an institution they trusted.”
The bitcoin widget can be accessed in the latest version of Achieva’s mobile app, which launched on June 7. Users, according to the release, will be able to quickly see bitcoin’s current value, access their trading history, and directly buy, sell, or hold bitcoin through the NYDIG platform.
Educational resources and customer service information will also be readily available to members within the app, the statement said.
In a statement, Lou Grilli Sr., innovation strategist at PSCU, the nation’s largest credit union service organization, welcomed the move, saying, “Credit union members are looking for a safe, simple and convenient way to invest in crypto. They prefer to buy, sell and hold bitcoins through a trusted entity like Achieva.
He adds, “This is a great example of a credit union wanting to scale by ensuring members have access to emerging technologies while providing access to educational tools so members can take informed financial decisions.
Prior to the launch of the updated app, the release says, Achieva employees tested Bitcoin services. They were each given $10 to purchase bitcoins through the app, with NYDIG offering an additional $5 to each employee who signed up. During the three-week pilot program, Achieva team members purchased over $2,500 worth of bitcoins.