Manulife Taiwan advances collaboration with NYDIG! Providing eligible clients access to Bitcoin funds.

The U.S. life insurance company MassMutual announced that its brokerage arm, MML Investors Services (MMLIS), has signed a distribution agreement with New York Digital Investment Group (NYDIG). This agreement allows MMLIS advisors to offer eligible clients access to Bitcoin funds.

MassMutual

Founded in 1851, MassMutual has approximately five million customers and ranked 76th on the Fortune 500 list. By 2016, its assets had reached $675 billion.

Last December, MassMutual purchased $100 million worth of Bitcoin for its general investment account through NYDIG, a subsidiary of asset management firm Stone Ridge, accounting for 0.04% of MassMutual's managed assets and custody by NYDIG.

According to their announcement, aligned with their focus on innovation and diversified policies, MassMutual continues to believe that cryptocurrencies will become part of the financial sector and is therefore implementing a series of new initiatives to provide comprehensive services to financial professionals and clients.

NYDIG: MassMutual Leading the Way

Daken Vanderburg, Investment Director at MMLIS, MassMutual's proprietary business division, stated:

As MassMutual continues to explore the integration of cryptocurrencies into various business areas, MMLIS has seen a growing demand from clients to access Bitcoin products. Our collaboration with NYDIG further expands our product offerings, ensuring that our clients have the tools they need to build diversified investment portfolios.

Robert Gutmann, Co-Founder of NYDIG, commented:

MassMutual remains at the forefront of adopting Bitcoin, being one of the earliest companies to announce holding Bitcoin. They have been a strong strategic partner, and we are excited to work with the MMLIS team to provide opportunities for their financial professionals and investors to access Bitcoin.

NYDIG previously collaborated with payment giant NCR, allowing 25 million users of 650 banks and 2,400 local credit unions in the U.S. to access Bitcoin and other cryptocurrencies, making it a key driver of Bitcoin adoption.

Furthermore, NYDIG has attempted to launch a Bitcoin ETF. MassMutual's acquisition of a $5 million stake in NYDIG when purchasing Bitcoin is expected to lead to further collaboration between the two in the future.