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From the time it began Bitcoin mining operation in 2016, Fidelity has been working to bring the future of cryptocurrencies into the legacy world.
Fidelity Investments CEO Abby Johnson revealed that it has become hard to track all the developments in the crypto sector since the previously discussed things are now turning out to be a reality at a fast pace. During an interview with Barron’s, Fidelity CEO says there has been an “incredibly successful” run around Bitcoin for the mutual fund giant’s custody business. She also added that business has a ‘tremendous pipeline.’
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.