Fidelity Digital Assets – the crypto package of Fidelity Investments – and the cryptocurrency exchange platform Nexo have announced a partnership to offer cryptocurrency repositories, products and lending services to institutional investors.

Both companies will create a comprehensive product line and legal infrastructure for institutional investors seeking access to cryptocurrencies.

According to the announcement, the partnership with Fidelity Digital Assets will allow Nexo to expand its asset portfolio and add a second layer of storage to its security architecture. It also gives institutional investors in Fidelity Digital Assets access to Nexo’s services as well as the underlying cryptocurrency brokerage.

Kalin Mitodiev, co-founder and CEO of Nexo, commented on the development:

“Working with Fidelity Digital Assets is the latest milestone in our quest to deliver a complete enterprise platform and connect traditional finance firms to the digital asset ecosystem. Our customer base will now take full advantage of our industry-leading credit and trading products, relying on Fidelity Digital Assets’ customized storage and security solutions. ”
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Christopher Terrier, president of Fidelity Digital Assets Europe, said the company has seen a significant increase in interest from institutional investors across the continent, and that the company has expanded its partnerships to meet this demand.

Fidelity Investments has been ambitious in its plans for the institutional cryptocurrency market, having appointed a number of strategic employees in the field. The company seems to have a more comprehensive approach to cryptocurrencies as the asset manager seeks to provide more hot spots for organizations.

Source: CoinTelegraph