One of the biggest American financial services companies, Fidelity, is preparing to enter European market with a product orientated towards digital assets. The division called Fidelity Digital Assets is already working at the U.S. since this past year, providing cryptocurrencies to institutional shareholders.
Fidelity Digital Assets Enters Europe
Last year, Fidelity Investments Inc, established a new business enterprise at the U.S. oriented towards cryptocurrencies. It’s called Fidelity Digital Assets Ltd, also it enabled institutional investors to buy digital resources at a controlled fashion, resembling the way they can invest in more traditional assets such as bonds and stocks.
Today, the company formally declared the exact same service will be accessible in Europe, too. Institutional investors, such as hedge funds, family offices, and market intermediaries will have the ability to begin using Fidelity’s platform for purchasing and saving digital assets.
According into the announcement, a few of the advantages which they will receive comprise a “secure, compliant, and institutional-grade storage solution for Bitcoin, and other digital assets.” This will be guaranteed by vaulted cold storage, multi-level physical, technical and cyber controllers, and many security protocols.
Moreover, Fidelity will offer a trade implementation venue which includes multiple sources of bandwidth, along with a committed group of customer service specialists to help in the first stages to more complicated subjects like investment plans.
Fidelity And Cryptocurrencies
Fidelity is really one of the very first big financial service companies which have started adopting cryptocurrencies. Back in 2014, the company established its Blockchain Incubator as part of those Fidelity Center for Applied Technology.
More lately ) it introduced the aforementioned Fidelity Digital Asset Services, that has attracted plenty of attention because last year. According into the president of the division, Tom Jessop, the service is constantly growing, and the requirement for a comparable product in Europe was noteworthy:
“Since launching Fidelity Digital Asset in the U.S. over a year ago, we have seen significant interest and engagement by the institutional community, which show no signs of slowing. We are also encouraged by continued corporate and venture investment in market infrastructure companies as well as the entry of traditional exchanges into the digital assets ecosystem. These and other market indicators, alongside interest expressed from the U.K. and European client prospects, indicate a market with increasing potential, which gives us the confidence to expand the digital assets business geographically.”
Featured picture courtesy of WSJ