FIS, a financial technology company, has established a partnership with Fireblocks, a crypto custody company based in New York, to provide cryptocurrency services to its capital markets clients.
More than 6,000 FIS clients, including asset managers, hedge funds, banks, and brokers, will be able to use lending desks, liquid providers, huge trading venues, and decentralized finance (DeFi) protocols as a result of the partnership.
Clients of FIS will be able to use the Fireblocks platform to issue, transport, and store a variety of crypto assets.
The Fireblocks network provides some of the world’s fastest, safest, and most affordable data transfer services. It will be able to expand its product line, market position, and geographic reach as a result of this new relationship.
So, Adam Levine, Fireblocks’ Head of Corporate Strategy, stated in an interview with a top business journal that:
“This is a global partnership. We are looking to expand into existing markets and to enter into new markets”
” with this capability, like Latin America and South America,”
” where we are first getting boots on the ground. ”
FIS Expands Its Crypto Market Presence
FIS is a leading provider of technology solutions for businesses and financial institutions around the world. The startup is attempting to capitalize on traditional institutional investors’ rising desire to participate in the crypto derivatives market. That’s, without actually investing in digital assets.
When it comes to being onboarded at exchanges, completing transactions. Also, or assuming custody of assets, however, these investors confront a slew of issues.
Lastly, FIS thinks that its agreement with Fireblocks will address the majority of the difficulties preventing mainstream institutions. Of course, from seamlessly entering the crypto market.
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