Fidelity Digital Assets just went live!
Back in January, Fidelity announced that they would roll out their digital asset platform in March of this year.
Well, here we are in March and Fidelity announced that they have gone live with the platform, for selected clients.
Fidelity Digital Assets is the arm of Fidelity dealing with cryptocurrencies.
(Source: https://www.coindesk.com/fidelity-looking-to-expand-digital-asset-trading-beyond-bitcoin-and-ether)
Some details:
Back in October of 2018, Fidelity first announced that they would be building out a platform to better service the needs of their institutional clients.
Specifically, they said they wanted to meet institutional trading and custody standards as well as regulatory requirements for cryptocurrencies...
It appears they are well on their way!
From the company:
“We are live with a select group of eligible clients and will continue rolling out slowly. Our solutions are focused on the needs of hedge funds, family offices, pensions, endowments, other institutional investors.”
(Source: https://cointelegraph.com/news/fidelitys-digital-asset-platform-goes-live-with-select-clients)
Only a select group of clients are live now but over the coming months Fidelity expects to continue to build out their services and make them available to many more clients.
Demand keeps increasing!
According to Fidelity the bear market hasn't had any negative effects at all on demand from institutional clients.
In fact, demand is better than ever!
This from the head of the Fidelity Digital Asset arm:
"If anything, they (institutions) are as encouraged now as they were when prices were higher."
(Source: https://cointelegraph.com/news/fidelitys-digital-asset-platform-goes-live-with-select-clients)
This is very good news for the crypo space!
Fidelity has roughly $7 trillion under management, close to 10 million customer accounts, and over 500 large institutions as clients.
It's very good to have them getting involved with the crypto space!
Stay informed my friends.
-Doc