Published
5 years ago on
October 21, 2018
“The company will offer enterprise-quality custody and trade execution services for digital assets, commonly referred to as cryptocurrencies, to sophisticated institutional investors such as hedge funds, family offices and market intermediaries.â€The services will be offered in three main areas:
- Trade execution
- Customer service
- Institutional grade custody
“These institutions require a sophisticated level of service and security, equal to the experience they’re used to when trading stocks or bonds.â€The CEO and chairman of Fidelity Investments, Abigail P. Johnson initially revealed her ideas for the firm back in May last year and at the time said “I love this stuff [crytpo] and what the future holds. I’d like to think that huge new markets and products will be built on these open platforms.†For over four years, the company has been looking into digital currencies through its blockchain incubator. They have experimented with crypto mining and has integrated with Coinbase to let clients see their balances in crypto on the Fidelity website. Last year, a public charity gained over $65 million in crypto donations alone. According to Bitcoin.com, The CEO of Fidelity Investments commented on the matter saying:
“Our goal is to make digitally-native assets, such as bitcoin, more accessible to investors … We expect to continue investing and experimenting, over the long-term, with ways to make this emerging asset class easier for our clients to understand and use.â€What are your thoughts? Let us know what you think down below in the comments!
