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Fidelity Investments and Nexo are entering the institutional lending market. This is a big move for Fidelity as it moves more towards becoming an asset manager instead of just building portfolios for wealthy people. It’s also a volume play from Nexo, who will no longer be solely focused on retail customers and institutions. The future looks bright for gaming with blockchain.-
Fidelity and Nexo are entering the institutional lending market. They have recently announced that they will be offering loans to institutions, hedge funds, and family offices. This is a huge step forward for crypto-backed loans. Read more in detail here: fidelity digital assets.
Fidelity Digital Assets, Fidelity Investments’ crypto division, and Nexo, a crypto borrowing and trading platform, have established a cooperation to provide institutional investors with bitcoin custodial, product, and lending services.
For institutional investors interested in cryptocurrencies, the two companies will develop a full product range and legal infrastructure.
Nexo will be able to expand its asset portfolio and add a second custody level to its security architecture as a result of its cooperation with Fidelity Digital Assets, according to a statement. Nexo’s services, as well as crypto prime brokerage, are now available to Fidelity Digital Assets institutional clients.
Nexo co-founder and managing partner Kalin Metodiev responded on the news, saying:
“Collaborating with Fidelity Digital Assets is the next step in our mission to provide a comprehensive institutional platform and enroll conventional financial institutions into the digital asset ecosystem.” With Fidelity Digital Assets’ unique custody and security solutions, our customer base will have full access to our industry-leading credit and trading products.”
As China’s FUD spread, institutional investors purchased the drop.
Fidelity Digital Assets’ head of Europe, Christopher Tyrer, said the business has witnessed a considerable increase in institutional investor interest on the continent and has extended its relationships to match that need.
Fidelity Investments has made a number of important recruits in the institutional bitcoin industry as part of its ambitious goals. As the asset management aims to give additional institutional entry points, the business looks to be adopting a more holistic approach to bitcoin.
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The “fidelity crypto” is a company that’s entering the institutional lending market. They’re using blockchain technology to provide low-cost loans and investments.
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