Nexo Partners With Fidelity on Institutional Products

  • The partnership will provide investors with a tri-party structures that combines Nexo’s unparalleled lending solutions with Fidelity Digital Assets’ asset protection.
  • Nexo will extend its asset portfolio, add a second custody level to its security architecture, and provide Fidelity Digital Assets’ users access to its products.
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Cryptocurrency lender Nexo has partnered with Fidelity Digital Assets to establish an institutional-grade crypto custodial and lending platform, the company said in a press release on 7 December.

According to the announcement, the two companies will collaborate on a comprehensive product line and legal infrastructure for institutional investors who are looking to enter the crypto sector. The product will also offer investors quality custodial and lending services, and products specifically designed for institutional clients. The head of Fidelity Digital Assets for Europe, Christopher Tyrer, said in a statement:

“Along with Nexo, we recognize the opportunity to deliver a more robust and seamless experience for investors through collaborations like this. We’ve seen tremendous growth of interest in digital assets from institutions within the European market and we’re committed to implementing sophisticated solutions to match those available with traditional asset classes.”

The partnership will provide institutional clients with a tri-party structures that combines Nexo’s unparalleled lending solutions with Fidelity Digital Assets’ market-leading asset protection. Fidelity’s institutional customers will gain unrestricted access to Nexo’s full product line, including its crypto prime brokerage. It will also allow Nexo to extent its asset portfolio, and add an additional level to its military-grade security infrastructure.

The development came less than a month after Nexo announced a $100 million buyback program for its native token NEXO. Part of the company’s Nexonomics 3.0 initiative, the program will use the acquired tokens for daily interest payouts and “investments in strategic targets via token mergers”.

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