Fidelity and Nexo are entering institutional lending market

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

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

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The partnership with Constancy Digital Belongings will enable Nexo to increase its asset portfolio and add a second custody stage to its safety structure, based on an announcement. It additionally permits Constancy Digital Belongings institutional buyers entry to Nexo’s providers in addition to crypto prime brokerage.

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

“Working with Constancy Digital Belongings is the most recent milestone in our quest to supply a whole institutional platform and to onboard conventional finance firms 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, mentioned that the agency has seen vital development in institutional investor curiosity on the continent, and has expanded its partnerships to be able 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 offer extra institutional entry factors.