Fidelity and Nexo are entering the institutional loan market

Fidelity Digital Assets, the crypto division of Fidelity Investments, and Nexo, a crypto lending and trading platform, announced a partnership to provide institutional investors with crypto custody services, products, and lending services.

The two companies will create a comprehensive product line and legal infrastructure for institutional investors who want to access cryptocurrencies.

According to an announcement, the cooperation with Fidelity Digital Assets will enable Nexo to expand its asset portfolio and add a second level of custody to its security architecture. It also enables Fidelity Digital Assets institutional investors to access Nexo’s services and crypto prime brokerage business.

Kalin Metodiev, Nexo’s co-founder and managing partner, commented on this development:

“Partnering with Fidelity Digital Assets is the latest milestone in our search to provide a complete institutional platform and introduce traditional financial companies into the digital asset ecosystem. Our customer base will now take full advantage of our industry-leading credit and transaction products and rely on Fidelity Digital Assets Customized hosting and security solutions.”

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Christopher Tyrer, head of Fidelity Digital Assets Europe, said the company has seen a significant increase in interest from institutional investors in continental Europe and has expanded partnerships to meet this demand.

Fidelity Investments has been ambitious In its institutional cryptocurrency market plan, Some strategic recruitment In space. The company appears to have taken a more comprehensive approach to cryptocurrency, as asset management companies seek to provide more institutional access points.