FIS, As Well As Fireblocks, Have Teamed Up To Offer Institutional Customers Cryptocurrency Trade As Well As Defi

The company was valued at $8 billion, and the following month, it paid $100 million for First Digital. Former financial regulators have also expressed surprise at the institution’s popularity. Former SEC Chairman Jay Clayton joined Fireblocks as a regulatory advisor last year, and the Bank of England’s senior executive joined only days ago.

According to a recent survey of financial advisors, 72 percent of respondents are interested in investing in crypto if a US spot ETF is approved. Investors such as Kevin O’Leary and Michael Saylor have repeatedly emphasized the regulatory hurdles that institutions must overcome in order to gain access to crypto markets.

The cooperation, according to Michael Shaulov, Chief Executive Officer of Fire Blocks, provides their product to almost every sort of business institution in traditional assets. According to FIS’s website, its technologies are used to handle half of the world’s wealth.

The two companies will make it possible for businesses of all sizes to trade, lend, and stake cryptocurrency. Fireblocks, an Israeli crypto custodian, has collaborated with FIS, the world’s largest processing, and payments business, to bring crypto adoption to capital markets. Clients of FIS now have access to a full range of crypto investment services, including trading, storage, and Defi. FIS is offering enterprises of all types access to the top crypto trading venues, liquidity providers, lending desks, and Defi applications, according to a news statement from the company.

Introducing Cryptocurrency Into Institutions

According to the announcement, more than two-thirds of institutional investors seek to include digital assets in their portfolios. According to a recent survey of financial advisors, 72 percent of respondents are interested in investing in crypto if a US spot ETF is approved. Investors such as Kevin O’Leary and Michael Saylor have repeatedly emphasized the regulatory hurdles that institutions must overcome in order to gain access to crypto markets. These issues vary from a lack of clarity surrounding government policy to internal company carters that limit investment in the field.

The Fire Blocks platform will be used by FIS to allow its corporate clients to move, store, issue, and self-custody their crypto assets. Asset transfer, crypto staking, lending, and Defi networks will all be available. Capital markets organizations will tremendously benefit from a single location that allows them to manage different classes of digital assets as digital currencies become more popular, according to Nasser Khodri, Head of Capital Markets at FIS. This exciting new arrangement demonstrates our commitment to investing in expanding our digital asset capabilities for our global client base, says the company.

The Huge Collaboration

The cooperation, according to Michael Shaulov, Chief Executive Officer of Fire Blocks, provides their product to almost every sort of business institution in traditional assets. According to FIS’s website, its technologies are used to handle half of the world’s wealth. FIS already provides money transfer services to four of the top five cryptocurrency exchanges, such as card to crypto.

In its own right, the Fire Blocks platform has experienced significant growth. In January, the company was valued at $8 billion, and the following month, it paid $100 million for First Digital. Former financial regulators have also expressed surprise at the institution’s popularity. Former SEC Chairman Jay Clayton joined Fireblocks as a regulatory advisor last year, and the Bank of England’s senior executive joined only days ago.

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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing