Fidelity Investments just made a big jump into the crypto space.
It’s a big deal.
Fidelity clients hold assets of over $7 trillion.
And Fidelity has 27 million individual investors and 13,000 financial advisory firms as clients.
Fidelity will be launching Fidelity Digital Assets.
It will include an enterprise-grade custody solution, a cryptocurrency trading execution platform, and institutional advisory services.
According to reports customers are already being onboarded now and a general launch will happen in early 2019.
CEO Abigail Johnson stated, “Our goal is to make digitally-native assets, such as bitcoin, more accessible to investors.”
Fidelity Digital Assets is being led by Tom Jessop, formerly the head of business development at Fidelity. Prior to that he worked at blockchain startup Chain, which was recently acquired by the Stellar Development Foundation.
This is big news as Fidelity is one of the largest, traditional financial firms.
You have to imagine at some point it will expand its services to retail customers.
And other traditional financial firms will likely follow suit.
What do you think of Fidelity getting into crypto?
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