More

    Fidelity Digital Assets May Support Ethereum Custody Services in 2020, If There Is Demand

    Fidelity Digital Assets has been around for the majority of this year, providing a way for institutional investors to get involved with Bitcoin. Now, it looks like the company is examining customer demand, potentially preparing to support Ethereum as the firm enters its second year in the crypto-sphere.

    • President Tom Jessop of Fidelity Digital Assets was interviewed in an episode of The Scoop.
    • Ethereum is presently priced at $142.93.

    Ethereum has been the #2 cryptocurrency for the better part of the decade, and it looks like Fidelity Digital Assets is taking note. President Tom Jessop of Fidelity Digital Assets was recently featured in an episode of The Scoop, telling The Block that they’ve, “done a lot of work on Ethereum,” in reference to whether custody will be offered for the digital asset. Jessop added, “We intend to support it in the New Year,” and that their decision will be based on the demand for the asset by clients.

    Fidelity Digital Assets (FDAS) was originally launched towards the beginning of 2019 to offer institutional investors and traders the tools they need for trading and cryptocurrency custody. During this time, FDAS has only provided support for Bitcoin, which some experts believe is move that keeps them from actually being competitors with other firms in the crypto space, like Coinbase and BitGo.

    One of the biggest obstacles to the institutional adoption of any cryptocurrency has been the lack of track-record, according to Jessop. Bitcoin, being the cryptocurrency that began the whole industry, has a strong pull for institutional investors, when it comes to putting their own capital towards it. Jessop believes that other cryptocurrencies, like Ethereum, haven’t had the same appeal, which is why Fidelity hasn’t provided support for it. Jessop stated,

    “How do I know that if I buy this thing, it’s gonna be around tomorrow? Like what indication of durability or longevity do I have based on the fact that the history of this asset is 10 years old?”

    New York regulators approved FDAS for a trust license in November, allowing the platform to provide custody services to clients within their borders. The firm also gained more traction with investors after it was selected by Galaxy Digital as a third-party custody service for two of its recently launched Bitcoin funds.

    Presently, Ethereum has a market cap of over $15 billion, and it is priced at $142.93.

    Ethereum (ETH) Live Price

    1 ETH/USD =$264.4931 change ~ 3.18%

    Coin Market Cap

    $29.04 Billion

    24 Hour Volume

    $2.67 Billion

    24 Hour VWAP

    $262

    24 Hour Change

    $8.4170

    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.

    Avatar
    Krystle M
    Krystle is an American cryptocurrency blogger that wants to see the future of crypto and blockchain technology evolve. She has been writing about cryptocurrency for about a year, with a special interest in blockchain technology and regulatory measures around the world. While away from writing and learning about the changes in the cryptocurrency industry, she likes to indulge in science fiction novels and further her experience in playing both guitar and piano.

    [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

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,288FansLike
    2,765FollowersFollow
    4,134FollowersFollow

    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Shopify Joins Facebook-led Libra Association To Help Build Stablecoin Payment Network

    E-commerce platform Shopify has announced that it has joined the Libra Association. This means that the online shopping firm is the latest entrant of...

    Tron Launches A New TIP While BTFS Prepares to Deliver Next-Gen Decentralized Storage

    Sprinkle of good news: TPS to add new features to TVM, number of accounts on Tron Network exceed 4.7 million, partnership with Steemit,...

    IOTA Urges Users To Use New Seed Migration Tool After Trinity Wallet Hack

    Following IOTA’s recent hack on its Trinity Wallet, the development team is urging the users to protect their wallets by changing their passwords and...

    Gold Hits 7-Year High As Investors Jump into Safe Haven Assets But Bitcoin Not Following

    Coronavirus outbreak has the investors fearing a slowdown in global growth and piling into safe-haven assets like gold US dollar also rising while...

    Russia’s Central Bank And FSB Agree to Ban Cryptocurrency Payment Options

    A Russian local news source, recently reported that the country’s Central Bank and Federal Security Service (FSB) finally came to an agreement that 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.