Fidelity Digital Assets Expands Into EU As Bitcoin Custodian For London Based Investment Firm

    One of global’s renowned investment managers, Fidelity Investments crypto wing has rolled on its inaugural outlet in Europe in efforts to tap into digital currency within the continent and bring it into traditional investing, Reuters reports.

    In a statement released on Tuesday, Fidelity will become the custodian of Bitcoin owned by Nickel Digital Assets, a crypto management firm located in London.

    The inadequate back-office offerings such as custodial services provided by global financial companies has been blamed as a major hindrance why institutional investors and other wealthy personalities have kept away from the crypto industry. It is expected that the entry of such companies like Fidelity will encourage big investors to enter into the industry.

    Fidelity manages in excess of $7.8 trillion and its entry in the crypto industry will boost the confidence of large investors and bring mainstream cash into the growing industry. Large investors like pension managers have remained out of the crypto industry due to uncertainties in regulations and frequent hacks.

    Speaking during the launch, Chris Tyrer, who heads the Fidelity’s crypto wing in Europe, explained the challenges inhibiting the involvement of large or institutional investors like regulations as well as high volatility are diminishing at a faster rate.

    The entrance of cryptos into the mainstream money markets has been facing numerous challenges with Facebook’s led Libra crypto being met with regulation uncertainties and scepticism, especially in Europe. Germany and France have been on the forefront vowing to never allow the cryptocurrency operate or launch in Europe. Majority of authorities around the world have been raising questions that Libra might take over financial sovereignty from them if its launched in the current design.

    Tyrer explained that having a uniform regulation within the European Union will help in tackling the problems associated with making cryptos mainstream and will also guide the service providers like his company.

    Tyrer explained that his firm’s services are in high demand among family offices, various crypto firms and wealth managers. He however refused to divulge the exact amount of funds managed by his firms.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Joseph Kibe
    Joseph Kibe
    Joseph is a blockchain and cryptocurrency enthusiast, with a strong conviction that exposure of blockchain technology is for the good of the society. Fascinated by the massive potential of cryptocurrencies and the technology behind them – blockchain – Joseph spent lots of his time learning more about the industry, becoming a polished expert writer in the sector. He covers any cryptocurrency and blockchain related content.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


    Please enter your comment!
    Please enter your name here


    Live Bitcoin Price & Latest BTC Chart News

    Today's Latest Crypto News

    Swiss Private Banking Giant Julius Baer Adds Digital Asset Trading And Crypto Custody Services

    The major Swiss wealth management and private banking group Julius Baer just launched, in partnership with Seba, its new custodial and trading cryptocurrency services. The...

    Iran's Ministry of Industries, Mining, and Trade Grant More Than 1,000 Crypto Miners Licenses

    Iran is regulating crypto miners after a new licensing regime has been introduced by the country’s government. According to an official representative from the Iranian...

    CME Gaps for Bitcoin Price Fill over 95% of the Time: Research

    CME Gaps are popular topics that frequently get talked about in the crypto market, which usually has seen Bitcoin dumping. These Gaps occur because unlike...

    The Upcoming Cut in Bitcoin Supply Means Zero for BTC Price Says, Analyst

    Searches for bitcoin halving on Google Trends on an uptrend “Makes no sense” to discuss if the halving is priced in says economist...

    WEF's New Global Consortium To Focus On Cryptocurrency Governance Framework

    The World Economic Forum (WEF) has announced the creation of a global consortium which will come up with a governance framework for all cryptocurrencies...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.