Payments giant FIS has entered into a partnership with custody platform Fireblocks to accelerate the adoption of crypto within the capital markets industry, the company said in a press release on 13 April.
According to the announcement, the Fireblocks partnership will provide FIS’ clients with access to the “largest” crypto trading venues, liquidity providers, lending desks, and decentralized finance (DeFi) applications. FIS is a Fortune 500 company with over 6,000 clients globally, including 80% of the biggest players in the capital markets industry, such as asset managers, hedge funds, brokers, and banks. The head of Capital Markets at FIS, Nasser Khodri, said in a statement:
“As digital currencies become more mainstream, capital markets firms will greatly benefit from a single destination that helps them manage many classes of digital assets. This exciting new agreement is a proof point of our commitment to invest in growing our digital asset capabilities for our global client base.”
Fireblocks’ platform will allow FIS capital market clients to move, store, and issue digital assets, as well as give them access to a self-custody digital asset wallet technology. The platform also offers an asset transfer network and tools to access DeFi, staking, and other forms of digital asset exposure.
FIS has been increasing its crypto capabilities over time, and is now working with four of the five top crypto exchanges to provide its clients with card-to-crypto and other “money movement” services. Last week, the company announced it would offer merchants that use its Worldpay platform the ability to receive settlements directly in the USDC stablecoin.