Fidelity Investments will continue to expand Fidelity Digital Asset Services, after its initial launch last October.
Fidelity Digital Asset Services offers custody and trade execution services for cryptocurrencies, to institutional investors such as hedge funds, family offices and market intermediaries.
Since October, Fidelity Digital Asset Services has continued to build the technical and operational capabilities needed for securing, trading and supporting digital assets.
Its operations, risk, and compliance teams are working with auditors to refine its policies and procedures, adapt existing operational processes, and to set new benchmarks for this aspect of cryptographic and blockchain-based finance.
Abigail Johnson, chairman and CEO of Fidelity Investments, commented: “Our goal is to make digitally-native assets, such as bitcoin, more accessible to investors. 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.”
In a release, Fidelity Investments said: “We are currently serving a select set of eligible clients as we continue to build our initial solutions. We’ve established a robust set of technical and operational standards at a level that institutions have come to expect from Fidelity.”
It added: “We are committed to exceeding the requirements and standards of existing solutions with both our custody platform and trading venue?—?providing a combination of security and a central point of market access, disrupting the obfuscated nature of trading digital assets today. We realise bitcoin is not the first form of digital cash, but we recognise the transformative potential it has created.”
