Fidelity National Information Services (FIS) has teamed up with Fireblocks, a cryptocurrency custody firm, to provide an institutional solution for safeguarding digital assets. Through this collaboration, FIS will accelerate crypto adoption within the capital markets industry. The payment company will enable firms of all types to access the largest crypto trading venues, liquidity providers, DeFi applications, and lending desks.
FIS capital markets clients can move, store and issue digital assets and gain access to self-custody digital asset wallet technology through the Fireblocks platform. They can also take advantage of the asset transfer network and tools to access staking and other more advanced forms of digital asset exposure.
Nasser Khodri, Head of Capital Markets at FIS, said that capital market firms will greatly benefit from a single destination that helps them manage many classes of digital assets. He highlighted that the company’s latest partnership is proof of its commitment to investing in growing digital asset capabilities for its global client base. Michael Shaulov, the CEO at Fireblocks, revealed that the strategic partnership with FIS will bring the company’s technology to nearly every type of buy-side, sell-side, and corporate institution in traditional assets. Shaulov said both companies will enable a quick way for existing and prospective FIS clients to onboard their digital asset operations, and tap into fast-growing markets.
As more institutional investors and asset managers are taking a closer look at the industry, FIS is looking at expanding its digital asset offerings. Peter Jubber, managing director at Fidelity Digital Funds, said data shows that institutional investors expect the digital assets industry to closely mirror other asset classes.