Fidelity Digital Assets Review: New Crypto Investment and Custody Platform to Support Digital Cash Evolution

$2.5 Trillion Dollar Fidelity Investments Launches New Crypto Platform to Support the Evolution of Digital Cash

Fidelity Investments announced that it has created a new separate company known as Fidelity Digital Asset Services. According to the official announcement, the intention is to allow institutions to have access to cryptocurrency investments.

The creation of this company is related to the evolution of digital cash that is currently represented in Bitcoin and other cryptocurrencies. Fidelity Digital Assets wants to offer a solution to the increased demand from institutional investors.

Fidelity is making a huge step into cryptocurrencies. The giant company announced that its new firm will be handling cryptocurrency custody and trading services for institutions.

Fidelity Investments Chairman and CEO, Abigail Johnson, informed that the company is also experimenting for the long-term with new services and products.

On the matter, he commented:

“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.”

According to Tom Jessop, head of Fidelity Digital Assets, the company was analysing the idea of launching a new crypto company back in 2017. At the moment, the new services are available for institutions such as hedge funds, endowments and family offices. Retail investors will not be allowed to invest within the firm.

In another post, the company explains that the emergence of digital assets such as cryptocurrencies (including Bitcoin) show that there is a change in the way money is transferred globally. Fidelity Digital Assets believes that these virtual currencies will become accepted as investable assets and stores of value.

That means that they will be tradeable on global, licensed exchanges and accessible to both individuals and institutions all over the world.

Although there were several steps before releasing Bitcoin the community was able to solve the challenges that appeared on the road and improved them. Most of the technological advances in cryptography and decentralized networking helped the crypto ecosystem arrive where it currently is.

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
Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[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

3,471FansLike
2,795FollowersFollow
4,194FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Bitcoin to Follow the Equities Market Up or Down? One-Month Correlation Spikes to an All-Time High

Yet another week of weak price movement. The world’s leading digital asset is trading at $9,072, in red with 24 hours ‘real’ volume of just...

Public Mint Launches Its Blockchain; Over 200 Banks Plan to Support Its Digital Money

vPublic Mint, a firm founded by CNET founder Halsey Minor, has announced the launching of its ‘fiat-native’ public blockchain, which enables anyone to easily...

BTC Halving Week Brings in Record Monthly New Accounts & Doubles the Revenue for BlockFi

The past two months have been incredibly dull for the price of bitcoin, but it didn’t affect the businesses in the cryptocurrency space. The...

Currencycloud Partners with Ripple to Leverage RippleNet for Efficient Cross-Border Payments

Currencycloud - one of the global payment processing giants - has become the latest member of the RippleNet family and would help ripple in...

Coinbase Custody and IOHK Partner to Provide Institutional-Grade Staking For Cardano's ADA in Q4

IOHK, the lead developer of Cardano blockchain, and Coinbase Custody, the institutional-grade custodian launched by Coinbase Inc., announced a partnership to allow users to...

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.

Start Using Crypto Today