Fintech firm FIS has joined forces with Fireblocks to speed up crypto adoption within the capital markets industry by enabling all businesses to access the largest crypto trading venues, liquidity providers, lending desks and decentralised finance (DeFi) applications.
According to FIS, recent research has revealed 69 per cent of institutional investors in the US would like to adopt digital assets as a part of their investment portfolio.
Leveraging the Fireblocks platform, FIS capital markets clients can move, store and issue digital assets, and gain access to self-custody digital asset wallet technology, an asset transfer network and tools to access staking, DeFi and other more advanced forms of digital asset exposure.
‘Nasser Khodri, head of capital markets at FIS, said: ““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. This exciting new agreement is a proof point of our commitment to invest in growing our digital asset capabilities for our global client base.”
Meanwhile, Michael Shaulov, CEO at Fireblocks, adds: “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. 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.”
FIS, which provides tech solutions for merchants, banks and capital markets firms globally, has plans to further expand its portfolio of crypto and digital asset offerings for clients across multiple markets, including card-to-crypto and other money movement services for four of the top five cryptocurrency exchanges. The company also recently announced new crypto regulation capabilities.
In addition, FIS recently unveiled a banking-as-a-service hub, enabling banks, credit unions and fintechs to build digital banking and payments ecosystems. The hub provides a full suite of banking and payments capabilities for institutions of all sizes, allowing for more opportunities to deliver embedded finance solutions for superior customer experiences.