Nexo, a globally regulated crypto-collateralized credit provider, has announced a partnership with Fidelity Digital Assets, an execution and custody services provider, to establish a platform to provide institutional access to digital assets with custodial and lending services, according to a news release shared with Forkast.News.
Fast facts
- The partnership will allow Nexo to establish an institutional-grade platform for the storage of digital assets, add a custody layer to its security infrastructure and develop lending services to institutional investors. It will also allow the firm to expand its portfolio of assets under management.
- As part of Fidelity Investments, one of the world’s largest and diversified financial services with US$4.2 trillion in assets under management, Fidelity Digital Assets provides dedicated blockchain expertise to institutional investors.
- “Along with Nexo, we recognize the opportunity to deliver a more robust and seamless experience for investors through collaborations like this,” said Christopher Tyrer, head of Fidelity Digital Assets, Europe, in a statement. “We’ve seen tremendous growth of interest in digital assets from institutions within the European market and we’re committed to implementing sophisticated solutions to match those available with traditional asset classes.”
- Nexo had also partnered with Input Output Hong Kong, one of the companies behind the Cardano blockchain, earlier in the year by adding ADA, the network’s native token, to Nexo’s exchange, allowing users to buy and sell ADA. Further integration between with Cardano on Nexo is expected in the future.
