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London-based cryptocurrency lender Nexo and institutional custodian Fidelity have partnered to offer crypto products geared specifically toward institutions. The aim is to bring professional bitcoin products to the market, designed specifically with the needs of institutional investors in mind.
According to a Bitcoin Magazine article, the partnership would enable Nexo to explore the development of new products for institutional investors, including tri-party structures for bitcoin-backed loans.
“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,” said Christopher Tyrer, Head of Fidelity Digital Assets, Europe, in response to the partnership.
The two companies will create a comprehensive product line as well as the necessary legal infrastructure for professional investors seeking to gain exposure to cryptocurrencies.
The institutional market for cryptocurrencies is growing rapidly, with a recent report by US Bank stating that digital assets have become “Too large to ignore”. To read more on the report click here.
At DeFi Consulting Group, we specialize in consulting family offices and other financial institutions on navigating the Crypto and Decentralized Finance space. Reach out to our team for guidance on how to effectively approach this field.