Fidelity Moves Into the Cryptosphere with the Launch of Fidelity Digital Assets

truthproductions (70)in #cryptocurrency • 6 years ago

World's fifth largest financial services provider Fidelity Investments is entering the cryptosphere with the launch of their new company, Fidelity Digital Assets.

“Our goal is to make digitally-native assets, such as bitcoin, more accessible to investors,” said Abigail P. Johnson, Chairman and CEO of Fidelity Investments. “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 an announcement on Monday, October 15, Fidelity Digital Assets will provide custodianship, trading, and dedicated client services to institutional investors. They will support bitcoin, ethereum, and other cryptocurrencies TBA.

“We started exploring blockchain and digital assets several years ago, and those
efforts have been successful in helping us understand and advance our thinking around
cryptocurrencies,” said Tom Jessop, head of Fidelity Digital Assets. “The creation of
Fidelity Digital Assets is the first step in a long-term vision to create a full-service
enterprise-grade platform for digital assets.”

Fidelity Investments is a 70 year old company that manages $7.2 trillion in client assets. Their endorsement of and movement into the world of cryptocurrency and blockchain technology may be a significant shift towards mainstream adoption.