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The solution proposed by NYDIG, partnering with Fidelity National Information Services (a fintech), integrates with the each adhering bank’s current ecosystem, making it seamless for the customer to purchase or sell bitcoin from his usual banking environment, in a manner similar to what Paypal does.
The bank does not really provide the customer custody over the bitcoins, but rather acts as an intermediary, that facilitates using the customer’s bank account to buy/sell bitcoin, whilst the custody is undertaken by NYDIG.
The bank’s game is logically to get their cut on every purchase/sell out of commissions, which each bank that deploys the solution will determine, likely varying somewhat between one bank and another. It suits people that want access to bitcoin as an investment (or believing it to be), not as a means of payment (as far as I’ve made out from reading the story and watching a cnbc video on the matter), and who are incapable of being their own bank. Believe it or not, I’d assume that the majority of the population has these limitations, and that is who the banks are after for their cut.
