Fidelity digital assets is building enterprise-grade bitcoin custody and other services for large institutions.
On july 22, 2020, the occ published an interpretive letter i authorizing national banks and federal savings associations regulated by the agency to custody digital assets (also referred to by the occ as cryptocurrencies, digital currencies, or virtual currencies) on behalf of their clients.
fidelity, the boston-based financial services firm with 2. 8 trillion usd under management, is fully rolling out its cryptocurrency custody service after launching in fall 2018 and adding some clients in a limited capacity at the beginning of 2019.
Fidelity is ramping up its cryptocurrency custody business, hoping to profit from the scarcity of big, regulated institutions in the chaotic world of digital assets, according to abigail johnson.
American financial services company fidelity investments has fully launched its cryptocurrency custody service.
Fidelity digital assets expands crypto custody service to asia. The cryptocurrency-focused arm of financial services giant fidelity investments is teaming with singapore-based stack funds to cater.
the 72-year-old firm announced the launch of a separate company, fidelity digital asset services, on monday that will handle cryptocurrency custody and trade execution for.
Fidelitys new company will manage the custody of digital assets, which essentially means the safe storage of such assets. 6 billion in cryptocurrency had been reportedly lost due to hacks. Fidelity holds that the difficulty of safely storing digital assets has limited large investor institutions from entering the space.
Reports indicate that fidelity will roll out its custody service for bitcoin with plans in the works to include other cryptocurrencies such as ethereum in the future. Apart from digital asset custody, the company also has plans to delve into the exchange arena. Back in december 2018, fidelity and nasdaq headlined funding round for a new cryptocurrency trading platform.
The company made a splash a year ago when it announced the launch of a separate company, dubbed fidelity digital assets, with the goal to offer the very-much-needed institutional custody services and trade execution, that is, provide.
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