Fidelity Launches Cryptocurrency Trading Platform For Bitcoin & Ethereum

Fidelity Launches Cryptocurrency Trading Platform For Bitcoin & Ethereum

Cryptocurrency News
October 16, 2018 by Sandra Onyeiwu
1225
American brokerage giant, Fidelity Investments is jumping into the emerging cryptocurrency arena with a new business to manage digital assets for hedge funds, family offices, and trading firms. “Our goal is to make digitally native assets, such as Bitcoin, more accessible to investors,” says Fidelity Investments Chairman and CEO Abigail Johnson. “We expect to continue
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American brokerage giant, Fidelity Investments is jumping into the emerging cryptocurrency arena with a new business to manage digital assets for hedge funds, family offices, and trading firms.

“Our goal is to make digitally native assets, such as Bitcoin, more accessible to investors,” says Fidelity Investments Chairman and CEO Abigail Johnson. “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.”

Fidelity is one of the five largest financial services providers in the world, maintaining some $7.2 trillion in client assets and wants to provide easier access to Bitcoin, Ethereum and other cryptocurrencies. The firm which participated in the Bloomberg Institutional Crypto conference in New York, announced on Monday.

The company will offer its services around the clock, seven days a week, to keep up with the non-stop nature of the cryptocurrency market.

Fidelity has created its own spin-off called Fidelity Digital Assets. The Boston-based LLC will house a crypto trading platform and custody solutions to offer a mainstream and secure way for traditional Wall Street investors to hold and store crypto assets.

Fidelity plans to leverage its experience with public and private key cryptography to provide multilevel cyber and physical security assurance. Thus, the company plans to utilize the same best practices that serve other aspects of its business in this new cryptocurrency venture.

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