By Nathan Ferguson
Lending Institution Nexo has decided to shake hands with Fidelity in order to provide new custodial and lending services to the institutional market.
As many institutions have started to look towards the digital asset market, Nexo is working towards making that a much trivial task, providing easier access to the market. An announcement about the collaboration with Fidelity Digital Assets was made on Tuesday, highlighting the new custodial and lending services that would be available for institutional clients to take advantage of and enter the digital assets space.
The collaboration with Fidelity will also help to reinforce the present security infrastructure of Nexo and will help them to launch a series of products that would gain the attraction of many institutions around the world. The partnership will also help Nexo to evolve its portfolio of assets under management.
Access to the Digital Space
Co-founder and Nexo Kalin Metodiev commented about the parentship, saying that the collaboration with Fidelity Digital Assets is a new milestone achieved that will provide a platform for institutions and other traditional financial firms, helping them to enter the digital asset ecosystem. Kalin also stated that the clients being served will have full advantage of their credit and trading products with faith in Fidelity Digital Assets custody and security solutions.
Besides that, Head of Fidelity Digital Assets in the European Region, Christopher Tyrer, said that they had seen a new wave of institutional interest in the cryptocurrency space in the European market, so the company is fully committed to providing advanced solutions that would be on par with the solutions provided with traditional asset classes.
Digital Asset Demand Boost
The demand for cryptocurrency continues to grow at a rapid pace, especially in the eyes of institutions that have been adopting cryptocurrencies, which have led to a huge uplift in the digital asset market space this year. As the value of Bitcoin and Ethereum continue to grow to absurd ranges, the demand for assets from big players in the market has also risen to new highs.
Popular banks such as Goldman Sachs, JP Morgan and many others have already adopted Bitcoin and have been providing many crypto-based products to their clients for quite a while now. Meanwhile, cryptocurrency firms have also stepped up their game in order to meet the demands of the ever-growing market.