In Brief:
- Nexo has announced a partnership with Fidelity Digital Assets to offer services to Institutional Investors.
- The Collaboration will provide crypto custodial and lending services for institutional investors.
- The partnership will focus on building a comprehensive product line and legal infrastructure.
Nexo, a crypto borrowing and exchange platform, has announced a partnership with Fidelity Digital Assets to provide crypto custodial services and lending services for institutional investors.
According to the blog post on Nexo, the collaboration will develop a comprehensive product line and legal infrastructure to protect digital assets’ integrity as well as build a trustworthy environment. The development will help institutional investors to get exposure to cryptocurrencies.
Kalin Metodiev, co-founder and managing partner at Nexo, commented on the development saying: “Working with Fidelity Digital Assets is the latest milestone in our quest to offer a complete institutional platform and to onboard traditional finance companies into the digital asset ecosystem. Our client base will now have full use of our industry-leading credit and trading products with reliance on Fidelity Digital Assets’ bespoke custody and security solutions.”
Head of Fidelity Assets in Europe, Christopher Tyer stated that the firm has observed a noticeable growth in institutional investors’ interest, and to satisfy their demand the company made a partnership.
Fidelity is following the interest of investors and traders in Europe to build an efficient ecosystem for them. Recently, Fidelity announced a launch of spot Bitcoin exchange-traded futures (ETF) in Canada.
