Safello, the leading cryptocurrency exchange in the Nordics, has announced a new partnership with Fuels Capital, a provider of asset-backed financing solutions. The collaboration will see Safello act as custodian for bitcoin used as collateral in loans issued by Fuels Capital.
Under the terms of the agreement, Safello will receive a share of the revenue generated from the bitcoin-backed loans in which it acts as custodian. The financial impact of the partnership is yet to be determined.
The partnership is seen as a strategic move for Safello, allowing the company to expand its revenue streams by utilizing its existing custody infrastructure and regulatory framework. It’s important to note that Safello will not be providing lending services but will solely act as custodian for the collateralized bitcoin.
“We are excited to enter into this partnership with Fuels Capital, which allows us to tap into the growing crypto-backed lending market in a capital-efficient manner,” says Emelie Moritz, CEO of Safello. “By leveraging our existing infrastructure, we can diversify our product offering and expand our revenue base within our current operational and regulatory setup.”
The agreement between Safello and Fuels Capital will be initially tested for six months, after which both parties will evaluate its impact and decide on future steps.
For more information, please contact Christian Ploog at press@safello.com.
Amudova AB is the certified adviser for Safello. The leading cryptocurrency exchange was founded in 2013 and currently serves over 418,000 users in the Nordics. Its mission is to make crypto accessible to everyone by offering a secure and seamless solution for buying, selling, storing, depositing, and withdrawing cryptocurrencies directly from the blockchain. Safello AB is authorized as a crypto-asset service provider under MiCA and its parent company, Safello Group AB, has been listed on Nasdaq First North Growth Market since 2021. For more information, visit www.safello.com.
Fuels Capital, a brand within 0TO9 AB, is a Swedish credit market company authorized to conduct financing business under the Swedish Banking and Financing Business Act (2004:297). The company offers asset-backed financing solutions to entrepreneurs and investors with substantial value tied up in illiquid assets. For more information, visit fuelscapital.com.
This news release is distributed by a third-party without any affiliation to Safello or Fuels Capital.
