Fidelity Digital Assets — the crypto wing of Allegiance Investments — and crypto borrowing and exchange platform Nexo have announced a partnership to offer crypto custodial services, products and lending services for institutional investors.

The two firms volition create a comprehensive product line and legal infrastructure for institutional investors looking to go exposure to cryptocurrencies.

The partnership with Allegiance Digital Avails will allow Nexo to extend its nugget portfolio and add together a second custody level to its security compages, according to an announcement. Information technology also enables Allegiance Digital Assets institutional investors admission to Nexo'south services also as crypto prime number brokerage.

Kalin Metodiev, co-founder and managing partner at Nexo, commented on the development proverb:

"Working with Fidelity Digital Assets is the latest milestone in our quest to offer a complete institutional platform and to onboard traditional finance companies into the digital asset ecosystem. Our customer base of operations will now take full apply of our manufacture-leading credit and trading products with reliance on Fidelity Digital Avails' bespoke custody and security solutions."

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Christopher Tyrer, caput of Fidelity Digital Assets in Europe, said that the firm has seen significant growth in institutional investor interest on the continent, and has expanded its partnerships in order to see that need.

Fidelity Investments has been ambitious in its plans for the institutional cryptocurrency marketplace, making a number of strategic hires in the infinite. The company appears to be taking a more holistic arroyo to cryptocurrency, every bit the asset manager seeks to provide more institutional access points.