Fidelity Digital Assets – a suite of cryptocurrencies from Fidelity Investments – and cryptocurrency exchange and lending platform Nexo have announced a partnership to provide cryptocurrency services, products and lending services to institutional investors.
Both companies will create a comprehensive product line and legal infrastructure for institutional investors who want access to cryptocurrency.
The partnership with Fidelity Digital Assets will allow Nexo to expand its asset portfolio and add a second layer of security to its security architecture, according to the statement. It also gives institutional investors in Fidelity Digital Assets access to Nexo services as well as cryptocurrency brokers.
Kalin Mitodiev, co-founder and CEO of Nexo, commented on the development and said:
“Working with Fidelity Digital Assets is the latest milestone in our quest to provide a complete enterprise platform and integrate traditional finance companies into the digital asset ecosystem. Our customer base will now take full advantage of our industry-leading lending and trading products, relying on Fidelity Digital Assets’ bespoke storage and security solutions. … ”
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Christopher Terrier, president of Fidelity Digital Assets Europe, said the company has seen significant growth in interest from institutional investors across the continent and has expanded its partnerships to meet that demand.
Fidelity Investments has been ambitious in its plans for the institutional cryptocurrency market and has made a number of strategic appointments in the region. The company appears to be taking a more holistic approach to cryptocurrencies as the asset manager seeks to provide more institutional hotspots.