Institutional trading of bitcoin, crypto to be offered by Fintech giant FIS
A new partnership between Fireblocks and FIS will provide enterprise-grade asset management services for bitcoin and other cryptocurrencies. Over 6,000 enterprise clients will have access to a wide range of features such as self-maintained wallets and constant access to a secure network.
The press release cited a survey from FIS that showed 69% of institutional investors were interested in using bitcoin or another cryptocurrency as an asset management tool.
Major move inside institutional crypto investments
FIS, a publicly-traded fintech company and the largest processing and payments provider in the world, has partnered with New York-based cryptocurrency infrastructure firm Fireblocks to enable its over 6,000 capital markets clients access to a full suite of financial services for bitcoin and other cryptocurrencies, according to a Wednesday press release.
“As digital currencies become more mainstream, capital markets firms will greatly benefit from a single destination that helps them manage many classes of digital assets,” said Nasser Khodri, head of capital markets at FIS. “This exciting new agreement is a proof point of our commitment to invest in growing our digital asset capabilities for our global client base.”
Wide network of asset managers joined forces together
Starting today, 6,000 clients served by FIS will have access to Fireblocks’ product offerings including the network of over 1,000 partners that allows cheap, quick and secure transfers across the world all year round with no set operating hours, allowing constant access.
“The strategic partnership with FIS will bring the Fireblocks technology to nearly every type of buy-side, sell-side and corporate institution in traditional assets,” said Michael Shaulov, Chief Executive Officer at Fireblocks. “Together, we will enable a quick way for existing and prospective FIS clients to onboard their digital asset operations and begin tapping into these fast-growing markets.”
Huge interest to crypto assets among institutional money managers
The press release cites a recent survey that showed 69% of institutional investors in the U.S want to adopt bitcoin and other cryptocurrencies as part of their investment strategy. This partnership allows FIS clients to move and store bitcoin and other cryptocurrencies, gain access to self-custodied wallets, a transfer network, and other advanced forms of digital asset management.
In March, Worldpay from FIS partnered with Shyft Network to enable its merchant clients to more easily comply with current and evolving regulatory requirements in the new ecosystem. Worldpay provides services to four of the top five cryptocurrency exchanges, FIS said.
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