Fidelity and Nexo are entering institutional lending market


Constancy Digital Belongings — the crypto wing of Constancy Investments — and crypto borrowing and trade platform Nexo have introduced a partnership to supply crypto custodial providers, merchandise and lending providers for institutional traders. 

The 2 corporations will create a complete product line and authorized infrastructure for institutional traders seeking to get publicity to cryptocurrencies.

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The partnership with Constancy Digital Belongings will permit Nexo to increase its asset portfolio and add a second custody degree to its safety structure, in keeping with an announcement. It additionally allows Constancy Digital Belongings institutional traders entry to Nexo’s providers in addition to crypto prime brokerage.

Kalin Metodiev, co-founder and managing associate at Nexo, commented on the event saying:

“Working with Constancy Digital Belongings is the most recent milestone in our quest to supply an entire institutional platform and to onboard conventional finance corporations into the digital asset ecosystem. Our consumer base will now have full use of our industry-leading credit score and buying and selling merchandise with reliance on Constancy Digital Belongings’ bespoke custody and safety options.”

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Christopher Tyrer, head of Constancy Digital Belongings in Europe, stated that the agency has seen vital development in institutional investor curiosity on the continent, and has expanded its partnerships in an effort to meet that demand.

Fidelity Investments has been ambitious in its plans for the institutional cryptocurrency market, making a number of strategic hires within the area. The corporate seems to be taking a extra holistic method to cryptocurrency, because the asset supervisor seeks to supply extra institutional entry factors.