Cryptocurrency debt provider Nexo (NEXO) and Fidelity Digital Assets, the subsidiary company of Fidelity Investments, which provides crypto products, have made an agreement to jointly provide their services to their customers.
Nexo announced today (December 7) its partnership with Fidelity Digital Assets to provide crypto products and infrastructure to its corporate users. With this agreement, Nexo will start offering bitcoin-backed loans.
The firm said in a press release that it will bridge the gap between Nexo’s lending service and Fidelity’s asset protection services. With the partnership, corporate users of Fidelity Digital Assets will have access to Nexo’s crypto lending service under one roof, in addition to its crypto products service.
Kalen Metodiev, co-founder and managing partner of Nexo:
What brought Nexo and Fidelity Digital Assets together was our realization of the urgent feeling of tackling the digital assets storage issue that has limited so many investors’ entry into the industry. On the other hand, we have a once-in-a-lifetime opportunity to offer services that we have not offered before, and we will provide exactly that with our cooperation.
made statements.