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Fidelity Digital Assets To Support Bitcoin As Collateral For Cash Loans For The First Time
Summary: According to Bloomberg, Fidelity Digital Assets has cooperated with BlockFi to allow its institutional clients to use Bitcoin as collateral for cash loans. This is Fidelity's first time supporting tokens to be used as collateral. Tom Jessop, president of Fidelity Digital Assets, said in an interview that the target audience of the product is bitcoin ...
According to Bloomberg, Fidelity Digital Assets has cooperated with BlockFi to allow its institutional clients to use Bitcoin as collateral for cash loans. This is Fidelity's first time supporting tokens to be used as collateral.
Tom Jessop, president of Fidelity Digital Assets, said in an interview that the target audience of the product is bitcoin investors who want to convert their Bitcoins into cash without selling it. Potential customers include hedge funds, cryptocurrency miners, and over-the-counter trading desks. Jessop also stated: “Holding Bitcoin to support loans is a foundational capability. As the markets grow, we’d expect that this becomes a fairly important part of the ecosystem.”
By Mary Liu
Tags: Bitcoin,Cash,collateral,Fidelity Digital Assets,Tom Jessop
Link: Fidelity Digital Assets To Support Bitcoin As Collateral For Cash Loans For The First Time [Copy]
