Indiana’s Star Bank Launches Bitcoin Trading Services

Star Financial Bank (Star Bank) says it has become the first bank in the U.S. state of Indiana to offer bitcoin services to customers. The services will be offered through the New York Digital Investment Group and Alkami platform. Customers will have the ability to buy and sell bitcoin via the Star Mobile Banking App.

Star Financial Bank (Star Bank) announced Tuesday:

Star is excited to offer customers the ability to buy and sell bitcoin via the Star Mobile Banking App.

“We’re launching this new offering as a closed beta,” the bank added.

Star Bank is an Indiana-based community bank. Its parent company, Star Financial Group, has $2.80 billion in assets with 36 locations in central and northeast Indiana, according to its website.

The bitcoin services are provided by the New York Digital Investment Group (NYDIG) via Alkami, a cloud-based digital banking solutions provider for U.S. banks and credit unions. NYDIG is the bitcoin investment arm of Stone Ridge Asset Management.

According to the announcement published on Star Bank’s website:

Star Bank is the first bank in the state of Indiana to offer bitcoin trading services to customers.

The bank’s customers will have the option to “acquire, sell, hold, and manage bitcoin alongside their traditional assets,” the announcement details.

Alkami’s founder and chief strategy and sales officer, Stephen Bohanon, explained that his company “helps financial institutions achieve digital banking success by delivering the most advanced cloud-based digital banking platform on the market.” He opined: “Early technology adopters appreciate the importance of embracing bitcoin opportunities.”

What do you think about Star Bank offering bitcoin trading services? Let us know in the comments section below.