Financial giant Fidelity launches cryptocurrency trading and storage platform

Fidelity Investments, the world’s fifth largest financial holding company, which manages $ 7.2 trillion in assets of 27 million clients, announced the opening of Fidelity Digital Asset Services, which will enable institutional investors to store and trade cryptocurrencies on a par with traditional assets..

Initially, the unit will work exclusively with hedge funds, trustees, market intermediaries and other large organizations. According to the head of the new company, Tom Jessup, representatives of many institutions are interested in digital assets, but to enter this direction they need a reliable service provider with a high level of service and security, as when working with stocks and bonds..

The press release says that the company will offer its clients storage, trade and specialized services. The platform will support Bitcoin (BTC), Ethereum (ETH) and other cryptocurrencies. The created system includes cold storage, multi-level physical and cybernetic asset management elements, allowing trading on multiple sites.

Financial giant Fidelity launches cryptocurrency trading and storage platform

Tom Jessup added that Fidelity Digital Asset Services will use all the resources of the parent company to attract as many of the 13,000 institutional clients it serves to the crypto industry. The main task of the division is to make virtual assets more accessible to investors..

Fidelity believes that in the future cryptocurrencies will play an important role in the financial sector, so they have already begun to study this direction, technology and their features. The company has joined other major players developing similar products, including Goldman Sachs, Morgan Stanley, Citigroup.

text: Ivan Malichenko, photo: WSJ, media.glassdoor

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