Nexo and Fidelity Digital Assets have teamed together to provide institutional crypto investors with high-security services.

Nexo, a crypto loan and savings service located in the United States, has teamed up with New York City-based Fidelity Digital Assets (FDA) to attract major institutional investors to the cryptocurrency industry. Nexo will leverage Fidelity’s asset management infrastructure to increase its service access to institutional investors as part of the agreement. The firms will collaborate on the creation of new products such as Bitcoin-backed loans as part of the agreement. Fresh custodial layers will be added to Nexo’s current “military grade” security system to safeguard these massive investors.

“We’ve witnessed enormous increase in interest in digital assets from institutions in the European market, and we’re dedicated to delivering sophisticated solutions to match those offered with traditional asset classes,” Christopher Tyrer, Head of Fidelity Digital Assets, Europe, stated.

In recent months, a large number of investors have expressed interest in the crypto area.

Bank of America (BofA) has recognized in a study that cryptocurrencies had grown “too huge to ignore.”

Euro Shiba Inu Jumps 25,000 per cent

According to the research, large institutional investors have spent $17 billion (approximately Rs 1,27,055 crore) into the Decentralised Finance (DeFi) ecosystem in recent years. DeFi systems are designed to provide a self-contained and decentralized alternative to financial services that are currently regulated by banks and national or international governments.

Consecutive allegations of crypto-related organizations being hacked, on the other hand, have deterred significant investors from entering the field.

“With Fidelity Digital Assets’ unique custody and security solutions, our customer base will now have full access to our industry-leading credit and trading products,” said Kalin Metodiev, Nexo’s Co-Founder and Managing Partner.

This cooperation comes only a few weeks after Nexo launched a $100 million repurchase campaign for NEXO, the platform’s native coin (roughly Rs. 754 crores).

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