Fidelity Digital Assets launches cryptocurrency platform

PROVIDENCE – Fidelity Digital Assets has teamed up with a cryptocurrency lending platform to let customers pledge bitcoin as collateral, the company announced in December.

The partnership with BlockFi and a CME Bitcoin Futures Block Liquidity Provider lets institutional customers pledge bitcoin as collateral in their cash loans through Fidelity’s platform.

The new capability is intended to help broaden the investment company’s reach within the digital-asset space and increase capital efficiency from institutions with long bitcoin positions, the release stated.

Fidelity research suggests demand for bitcoin financing will continue to grow, evidenced by a 150% increase in its year-to-date price performance and public support from notable institutional investors and corporate treasurers.

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Nancy Lavin is a staff writer for the PBN. Contact her at [email protected].

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