Nexo, a globally regulated crypto-collateralized credit provider, has announced a partnership with Fidelity Digital Assets.
Partnership
Following the collaboration, both firms will develop a comprehensive product suite and compliant infrastructure for institutional investors seeking to gain exposure to cryptocurrencies. In addition, the duo will offer quality custodial and lending services. Such as launch innovative products developed specifically for institutional clients.
As a first step, the collaboration with Fidelity Digital Assets will expand Nexo’s ability to service and enhance its growing portfolio of assets under management and will provide an additional custody layer to Nexo’s military-grade security infrastructure.
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.
Quotes
“On the one hand, what brought Nexo and Fidelity Digital Assets together was that we felt the pressing need to directly address institutional investors’ challenge of safely storing digital assets, which has historically limited the large players from entering the space,” Nexo Co-founder Kalin Metodiev told Blockworks. “On the other, we saw the once-in-a-lifetime opportunity to introduce services that simply do not exist to this day and this is precisely what we plan on doing through our collaboration.”
“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,” Christopher Tyrer, head of Fidelity Digital Assets in Europe, said in a statement.
