Safello, the leading cryptocurrency exchange in the Nordic region, has announced a new partnership with Fuels Capital, a Swedish provider of asset-backed financing solutions. Under the agreement, Safello will serve as the custodian for Bitcoin used as collateral in loans issued by Fuels Capital to entrepreneurs and investors holding illiquid assets.
The collaboration operates on a revenue-sharing model, where Safello earns a portion of the revenue from the Bitcoin-backed loans it custodians. This allows Safello to tap into the expanding crypto-backed lending market without extending loans itself or distributing lending services. Instead, it leverages its existing regulated custody infrastructure to generate new income streams in a capital-efficient manner.
Emelie Moritz, CEO of Safello, commented: “The partnership with Fuels Capital allows Safello to participate in the growing segment of crypto-backed lending in a capital-efficient way. By acting as custodian, Safello can leverage its infrastructure for a new segment of products while expanding its revenue base within its existing operational and regulatory framework.”
This move comes as Safello deepens its involvement in the broader cryptocurrency ecosystem, including significant exposure to decentralized AI through Bittensor (TAO). Earlier in 2025, Safello reallocated part of its treasury into TAO, launched a subsidiary called Safello Labs to support the Bittensor network, and introduced the world’s first physically backed staked TAO Exchange Traded Product (ETP) in collaboration with Deutsche Digital Assets, listed on the SIX Swiss Exchange.
The partnership begins with a six-month pilot period, after which both parties will evaluate results and determine future steps. The potential financial impact on Safello is not yet quantifiable.
Safello, founded in 2013 and listed on Nasdaq First North Growth Market since 2021, serves over 418,000 users and is authorized as a crypto-asset service provider under the EU’s MiCA regulation. Fuels Capital operates under 0TO9 AB, a regulated Swedish credit market company.
This move aligns with the broader trend of institutional adoption of Bitcoin as collateral for lending, enabling borrowers to access liquidity without selling their holdings.
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