New York Digital Investment Group appear the completion of a $200-meg growth capital funding round for business initiatives relating to Bitcoin (BTC). The funding round was led by NYDIG strategic partners Morgan Stanley, Stone Ridge Holdings Group, Soros Fund Management and MassMutual, among others.

NYDIG, a provider of Bitcoin-related technology and investment services, will piece of work alongside its strategic partners in applying Bitcoin-focused solutions to the insurance, banking and clean energy industries. NYDIG's co-founder and CEO, Robert Gutmann, said:

"The firms participating in this round are more than than investors — they are partners, each well known to us for years. NYDIG will be working with these firms on Bitcoin-related strategic initiatives spanning investment management, insurance, cyberbanking, make clean energy, and philanthropy."

Following on from a spate of loftier-profile Bitcoin acquisitions past various institutional entities, Gutmann said the latest partnerships were a sign that institutional adoption of Bitcoin had arrived.

"These partnerships get out no doubt that institutional adoption of Bitcoin has arrived and, further, that NYDIG is the partner of choice for serious financial services firms with the highest fiduciary and diligence standards," said Gutmann, calculation: "In the months and quarters ahead, look out for an explosion of innovation in Bitcoin products and services delivered by NYDIG, in partnership with our new investors."

NYDIG as well announced on Monday that among life, annuity, and property and casualty insurers who employ its platform, over $ane billion worth of Bitcoin investments are now held in its institutional custody service.

The founder and executive chairman of NYDIG, Ross Stevens, said the latest round of funding from institutional investors was good for the visitor and BTC. "I am thrilled by what this group of incredible investors will mean for NYDIG, but especially for Bitcoin," said Stevens.