Major Fintech Firm FIS Partners with Fireblocks to Bring DeFi and Crypto to Institutions
The digital asset platform Fireblocks is partnering with the US-based publicly listed fintech firm FIS to bring a range of new enterprise-grade solutions from the world of decentralized finance (DeFi) and crypto trading and staking to its client base, the two companies announced today.
Thanks to the new partnership, institutions working on both the buy-side and the sell-side in financial markets can now get access to major crypto trading venues, liquidity providers, lending desks, and DeFi applications, the announcement said.
“This exciting new agreement is a proof point of our commitment to invest in growing our digital asset capabilities for our global client base,” Nasser Khodri, Head of Capital Markets at FIS, was quoted as saying.
Meanwhile, according to Fireblocks CEO Michael Shaulov, the partnership with FIS will bring crypto opportunities 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,” he said.
The announcement today follows news from earlier this month that WorldPay, FIS’ payment processing unit, has teamed up with another major crypto firm Circle to enable merchants to accept Circle’s stablecoin USDC.
“Companies will no longer be constrained by payment service providers offering a fiat-only ecosystem and can instead leverage an innovative adoption of crypto payment rails to directly receive, hold, and transfer stablecoins in a fast and efficient manner,” an announcement from FIS said at the time.
FIS (Fidelity National Information Services) is a major provider of technology solutions for merchants, banks, and financial markets companies around the world. The firm is publicly listed on the New York Stock Exchange, where its stock is down around 7% year-to-date.
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