Michael del Castillo with Forbes reported this morning that “Fidelity Investments is spinning off a stand alone company dedicated exclusively to bringing cryptocurrencies to institutional investors.”
“Called Fidelity Digital Assets, the limited liability corporation based in Boston will provide enterprise-grade custody solutions, a cryptocurrency trading execution platform and institutional advising services 24 hours a day, seven days a week designed to align with blockchain’s always-on trading cycle.”
Amid speculation over this year’s bitcoin price drop, this development marks a long-term, future-focused commitment to the value and potential of cryptocurrency and blockchain technology. Institutional demand is growing for digital assets, and Fidelity Digital Assets will serve the demand through secure, compliant means. “Our long term vision is really that you’ll see lots of assets exist in this new medium,” said Fidelity Digital Assets’ founding head Tom Jessop. “And this new medium will bring a host of benefits around efficiency, around access, around automation, which is very exciting for financial services.”
Read the full article on Forbes for more details.
