According to the latest development in the cryptocurrency domain, a partnership has been finalized between Nexo and Fidelity Digital Assets in order to create a platform that will provide the institutions with access to digital assets along with landing and custodial services. According to the details, Nexo will establish a platform that will store the digital assets and add an extra layer of custody for its lending services. This association will also help Nexo to expand its portfolio of products and services, especially under the digital assets category and attract more customers to its fold.
Fidelity Digital Assets, on the other hand, is a part of the world-renowned Fidelity Investments group that has more than $4.2 trillion worth of assets under its management. The digital arm of the group is specifically dedicated to providing blockchain solutions for clients in the institutional space. And now that the company has decided to come together with Nexo, the services offered by Fidelity are going to be more seamless, holistic, and productive in nature. Christopher Tyrer, Head of Fidelity Digital Assets, Europe, stated that there was the opportunity to deliver a more robust and seamless experience for investors through collaborations like the current one. He added that there was tremendous growth of interest in digital assets from institutions within the European market and that the company was committed to implementing sophisticated solutions to match those available with traditional asset classes.
Nexo has already partnered with Input Output Hong Kong earlier this year. Input Output Hong Kong is the organization behind the Cardano blockchain. This particular partnership resulted in buying and selling of ADA on Nexo.