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Bitcoin Trading And Custody Will Most Likely Soon Be Available On Fidelity Digital Assets Platform

 
Bitcoin Trading And Custody Will Most Likely Soon Be Available On Fidelity Digital Assets Platform
Exchanges / Breaking News / Bitcoin
  • Fidelity Digital Assets has just been given the green light of a licence to both trade and store bitcoin.
  • The company charter will allow the Digital Assets arm to carry on with the launch of its custody service for institutional investors.
  • Michael O’Reilly said “The custody and trade execution services that we provide are essential building blocks for institutional investors’.

The crypto subsidiary of asset conglomerate Fidelity, Fidelity Digital Assets has just been given the green light of a licence by the New York State Department of Financial Services (NYDFS) to both trade and store bitcoin.

As per Ethereum World News, the company charter will allow the Digital Assets arm to carry on with the launch of its custody service for institutional investors. An interesting feature is that the platform will now be able to also stop trade orders on behalf of its institutional clients.

The company said in a Medium blog post, “Our designation as a New York trust company builds on the commitment we’ve made to our clients to continue to provide the services they require to proceed with confidence in their own work with digital assets.”

The chief operating officer at Fidelity Digital Assets, Michael O’Reilly said “The custody and trade execution services that we provide are essential building blocks for institutional investors’ continued adoption of digital assets,”

“The designation as a New York Trust Company under the supervision and examination of the DFS builds on the credibility and trust we’re establishing amongst institutions and other market participants. We will continue to play a leading role in supporting the maturation of the entire ecosystem as we expand our business and the clients we serve.”

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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