FIS Cooperates With Fireblocks to Bring Defi and Cryptocurrency to Institutions

FIS, a major financial technology company, cooperates with fireblocks to bring Defi and cryptocurrency to institutions

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Fireblocks, a digital asset platform, cooperates with FIS, a US listed financial technology company, to bring a series of new enterprise class solutions from decentralized Finance (Defi) and cryptocurrency transactions and mortgages to its customer base. The two companies announced on 13 Apr 2022.

Due to the new partnership, institutions working for buyers and sellers in financial markets now have access to major cryptocurrency trading venues, liquidity providers, lending desks and Defi applications, the announcement said.

“This exciting new agreement is proof of our commitment to investing and developing digital assets for our global customer base,” Nasser Khodri,, head of capital markets at FIS, was quoted as saying.

Meanwhile, according to  Michael Shaulov, CEO of fireblocks, the cooperation with FIS will bring cryptocurrency opportunities to “buyers, sellers and business institutions of almost all types of traditional assets”.

Enterprises New Payment Way

“We will work together to provide FIS’s existing and potential customers with a fast way to put their digital asset business on the job and begin to enter these fast-growing markets,” he said.
Prior to today’s announcement, FIS’s payment processing unit WorldPay had partnered with circle, another major cryptocurrency company, earlier this month to enable merchants to accept circle’s stable currency usdc.

“Enterprises will no longer be subject to payment service providers that provide a pure legal currency ecosystem, but can use the innovative cryptocurrency payment track to directly receive, hold and transfer stable currencies in a fast and effective way,” said an announcement by FIS at the time.

FIS (fidelity national information services) is a major supplier of technical solutions for businesses, banks and financial market companies around the world. The company is publicly listed on the New York Stock Exchange and its shares have fallen about 7% this year.