FIS Partners with Fireblocks to Enable DeFi for Capital Markets Clients – Ledger Insights

Today, FIS announced an agreement with crypto custody company Fireblocks to provide its capital markets clients with access to cryptocurrency trading, lending and decentralized finance (DeFi) applications.

Aside from custody and self-custody wallet technology, Fireblocks offers a network that connects trading venues and liquidity providers that compares it to crypto’s SWIFT. It also has its Fireblocks DeFi offering, which supports trading on decentralized crypto exchanges, as well as staking and yield farming.

“As digital currencies become more mainstream, capital markets firms will benefit greatly from having a single objective that helps them manage many classes of digital assets,” said Nasser Khodri, Head of Capital Markets at FIS. “This exciting new agreement is a testament to our commitment to invest in growing our digital asset capabilities for our global customer base.”

This is the latest addition to FIS cryptocurrency activities. Almost a year ago, it struck a deal with crypto asset manager NYDIG to allow its banking partners to offer Bitcoin investments to clients.

It recently launched a node on the Crypto.org blockchain, and its Worldpay division allows merchants to receive payouts in the USDC stablecoin. Also, it has been on the governing bodies of two publicly-licensed DLTs for some time — Hedera Hashgraph and Korea’s Klaytn blockchain.

Meanwhile, Fireblocks first made headlines when it secured a custody technology deal with BNY Mellon, raising more than $1 billion in funding in January at a valuation of $8 billion.

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