“Can a vertically integrated, NYDFS-regulated bitcoin infrastructure firm become the institutional rails for Bitcoin custody, lending, trading, and energy-backed mining at scale?”
Founded in 2017 as the bitcoin investment and infrastructure arm of Stone Ridge, NYDIG built out institutional-grade regulated custody and execution entities chartered by the New York DFS. The company expanded into embedded bitcoin banking for financial institutions (notably via its partnership with Nymbus), Bitcoin-collateralized lending, and spot/derivatives trading. In 2021 it acquired Bottlepay for Lightning Network payments capability. More recently, NYDIG has pivoted further upstream by integrating power and compute infrastructure with Bitcoin mining, positioning itself as a vertically integrated 'bitcoin and power firm' rather than a pure fintech.
Nydig discloses Nymbus as its banking provider, according to the Embedded Finance Index 2026.
Nydig does not disclose a bank charter of its own; its banking services are provided through Nymbus.
Nydig processes payments through Bottlepay (acquired, self-operated — Lightning Network micropayments).
Nydig's crypto products run on NYDIG Trust Company (in-house).
The Embedded Finance Index 2026 maps 4 layers in Nydig's stack: Payments / PSP (Bottlepay (acquired, self-operated — Lightning Network micropayments)); Banking / BaaS (Nymbus); Lending (Bitcoin-secured HODL loans (fiat liquidity against BTC collateral, in-house)); Crypto (NYDIG Trust Company (in-house)).
Nydig was founded by Ross Stevens and is founded in 2017, headquartered in New York, NY, USA.
Get a read on where your own stack stands against Nydig and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.