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    The US National Bank of New York (NBN) has said it’s now working on ways to support bitcoin’s “future growth” and has given the digital currency’s price “a cautious thumbs up.”

    In a letter to investors, the bank said the bank’s “long-term goal” was to support “Bitcoin and other crypto currencies” and said it will “continue to review the opportunities and risks associated with crypto currencies.”

    The bank said it would also work to “support the emerging technologies that could impact the financial services industry.”

    In addition, the letter said the company would “continue working to support the ecosystem of decentralized digital currencies, including bitcoin.”

    The New York-based bank, which is the first in the country to offer bitcoin, said in the letter that it has “a long-term vision to expand our bitcoin trading platform and to enhance our relationship with bitcoin startups.”

    The letter was sent on Monday, the same day the New York Fed said it was “working with the Bitcoin Foundation and other stakeholders” to develop a proposal to expand the bank “bitcoin infrastructure.”

    In August, the New Yorker’s Jacob Weisberg wrote about the New Fed’s support of the bitcoin ecosystem, which included a call for its board to help fund bitcoin startups.

    According to the letter, the company said it had “stronger than ever relationships” with bitcoin companies and developers, and that the bank is working to make sure the bank supports the “future development of the Bitcoin ecosystem.”

    The letter also said that the New New York Federal Reserve Bank was “actively looking into ways to further support the emerging digital currency ecosystem, including with an advisory role in the development of new regulation.”

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