In a major push towards wider crypto adoption, financial services company FIS is partnering with custody platform Fireblocks to offer its client base access to a host of cryptocurrency trading and lending services.
FIS is a Fortune 500 technology provider that offers multiple kinds of financial services and products to its more than 6,400 client companies. With its partnership with Fireblocks, its clients will be able to access sizable crypto trading venues, liquidity providers, lending desks, and decentralized finance (DeFi) applications.
“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.”
FIS clients will now be able to avail of several of FireBlocks’ offerings, such as its self-custody digital asset wallet technology, an asset transfer network, and tools to access staking, DeFi, and more.
There seems to be an emerging pattern of traditional financial giants looking to enter the crypto space through partnerships For instance, the world’s largest asset manager BlackRock recently partnered with USDC stablecoin issuer Circle, making it the primary asset manager of USDC cash reserves. The two will also explore “capital market applications” for USDC.