Bitcoin could become easier to use thanks to a new plan that would allow customers of hundreds of US banks to buy, sell, and hold the cryptocurrency through their existing accounts

The plan, reported by CNBC, is a partnership between crypto storage company NYDIG and fintech firm Fidelity National Information Services, and will allow customers to use the top-rated cryptocurrency as easily as regular cash Hundreds of small banks have reportedly signed up for the program, which is expected to launch in the coming months

Bitcoin has grown significantly over the past few years and now has a market capitalization of over $1 trillion, with each coin worth approximately $55,000

However, one of the barriers to mainstream acceptance of cryptocurrencies is that buying and selling them usually requires the use of one of the various apps from new services such as Robinhood or Coinbase While some may be comfortable with that, others may prefer to wait until they are supported by financial institutions they are already familiar with

As Patrick Sells, NYDIG's head of banking solutions, says, "What we're doing is enabling everyday Americans and businesses to purchase bitcoin through their existing banking relationships If they are doing all their banking through mobile applications, they can buy, sell, and hold bitcoin"

Many of the banks that have signed up so far are small firms, such as Suncrest, a California-based bank with seven branches However, NYDIG has stated that it is in discussions with major US banks to join the program

Crypto funds have seen significant growth recently, with both Dogecoin and Ether (a cryptocurrency based on the Ethereum blockchain) reaching record highs

Several major financial institutions have entered the space amid growing consumer interest Last week, Coinbase announced a partnership with PayPal to allow users to purchase cryptocurrencies with their existing accounts