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SIMON Markets LLC has stricken a partnership with New York Digital Investment Group LLC (NYDIG) where they will be collaborating on a custody offering, offering features like bitcoin-backed borrowing, reported Business Wire. SIMON’s wealth managers serve clients with more than $5 trillion in total assets.

SIMON will massively benefit from NYDIG’s integrated solutions to provide their clients with institutional-quality custody and execution services. This new partnership will give wealth managers the confidence they need to dip their toes into the bitcoin space and be able to offer their clients the modern-day products and advice they demand.

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