Fidelity Just Did A Major Move - Now Allowing Customers To Obtain Cash Loans With Bitcoin Collateral
Fidelity Digital Assets now revealed a an exclusive contribution that empowers consumers on Fidelity’s institutional-grade digital asset's custody platform to pledge bitcoin as collateral in a transaction.
The exceptional potential marks Fidelity’s entrance into the digital asset economic area, establishing and expanding Fidelity Digital Assets’ existing custody contribution, which prevails integrated with a trade execution venue for customer liquidity needs. In partnership with that introduce of the collateral agent capability, BlockFi, a leading cryptocurrency lending platform and a CME Bitcoin Futures Block Liquidity Provider, will occur to provide its institutional customers the choice to custody bitcoin pledged as collateral in their cash loans on Fidelity’s platform. Fidelity Digital Assets proceeds to evolve out its contribution to receive more of the services that institutions expect from traditional asset classes, sparking new growth opportunities that prompted a recently announced hiring initiative.
“The business and market momentum we’ve seen this year have reinforced our belief that institutional investors are looking for a more comprehensive offering in the digital assets space, and we look forward to continuing to evolve our platform to meet their needs and deliver even greater value to our clients.