Media: Fidelity Digital Assets Allows Clients to Use Bitcoin as Collateral for Cash Loans
Rhythm BlockBeats news, according to Bloomberg News, Fidelity Digital Assets (Fidelity Digital Assets) has partnered with BlockFi to allow its institutional clients to use Bitcoin as collateral for cash loans.
Tom Jessop, president of Fidelity Digital Assets, introduced in an interview that Boston-based asset management company Fidelity Investments A subsidiary of Fidelity Investments will hold the digital assets instead of issuing loans itself. He added that potential clients of the new service include hedge funds, miners and over-the-counter traders, allowing them to access cash without liquidating their cryptocurrency holdings. Before getting a loan, Fidelity customers must first have a BlockFi account.
According to Rhythm’s previous report, in October this year, Fidelity Digital Assets has partnered with Stack Funds, a digital asset tracker and cryptocurrency index fund provider, to provide its clients with safe custody services for Fidelity Digital Assets to meet the growing needs of high-net-worth investors and family offices in Asia.
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