Fidelity and BlockFi Partner to Provide Bitcoin-Collateralized Cash Loans
Last Updated: 11 December 2020
Fidelity Digital Assets, the crypto-focused arm of investment giant Fidelity Investments, is expanding its service offering to customers. Per a Bloomberg report from earlier this week, the crypto investment subsidiary has partnered with top crypto lender BlockFi to disburse loans to institutional investors looking to pledge Bitcoin as collateral.
Easy Loans for Bitcoin Hodlers
As the report explained, the loans will come from BlockFi. Fidelity’s institutional custody clients will be able to get cash from their stored Bitcoin with the company. As long as they also have accounts with BlockFi, they won’t need to move their coins before getting the loans.