Fireblocks (a custody platform) and FIS (payments behemoth) have partnered to promote crypto adoption in capital markets.
According to a news statement from FIS, the agreement will allow access to the major crypto trading venues, liquidity providers, loan desks, and decentralized finance (Defi) apps to businesses of all sizes.
“As digital currencies become more widespread, capital markets organizations will benefit immensely from a single location that allows them to handle many different types of digital assets,” Nasser Khodri, FIS’s head of capital markets, said.
Digital assets will be able to be moved, stored, and issued by FIS capital markets clients. They’ll get access to self-custody digital asset wallet technology, an asset transfer network, and tools for staking, Defi, and other advanced crypto investing.
According to the corporation, its capital markets section has over 6,000 global clients, including 80 percent of the capital markets industry’s largest players.
Fire blocks CEO Michael Shaulov stated:
“The strategic agreement with FIS will deliver the Fireblocks technology to practically every form of buy-side, sell-side, and corporate institution in traditional assets.”
It’s a collaboration between two digital payments titans. Fire blocks have been on a roll in recent months, with its $550 million Series E fundraising round valuing the company at $8 billion. It’s recent hiring of Bank of England technology chief Varun Paul indicates that it is gearing up for a big push into crypto partnerships.
FIS has also been forming crypto alliances. It only announced last week that merchants would be able to obtain a direct settlement in the stablecoin USDC. It presently provides card-to-crypto and other money movement services to four of the top five crypto exchanges.
Also Read: Pastel World – Krew Studios Launches New Digital NFT Collaboration
Join our Telegram Channel to get the best notification regarding Pricing Prediction, Trading Analysis, News, Blogs, and interviews.
