Fidelity Boosts Bitcoin Adoption With This Move

The mainstream adoption os Bitcoin and digital assets has been one of the main goals that the crypto industry has set, and there have been made a lot of moves in this direction.

It’s been just revealed that Fidelity Investment’s crypto assets division, Fidelity Digital Assets, is teaming up with Singapore-based Stack Funds in order to bring crypto custody services to high-net-worth investors in Asia.

This is happening during a great time of growing interest in Bitcoin (BTC) and other cryptos in the region.

More exposure to a nascent economic sector

The partnership will offer Fidelity’s clients boosted exposure to what some still view as a nascent economic sector.

The online publication mentioned above also noted that Stack co-founder Michael Collett tells Bloomberg that the firm’s connection to Fidelity will appeal to Asian investors who have been wishing to access Fidelity Digital Assets’ secure custody services.

This important partnership is not Fidelity’s first move towards bringing crypto closer to its clients.

You may recall that the company created the Digital Assets branch in 2018 and just this August, Fidelity filed with the SEC to offer a Bitcoin index fund (Wise Origin Bitcoin Index Fund, I, LP).

It’s important to note that Stack also launched an institutional-grade BTC index fund in January.

Bitcoin hits $14k for the first time since 2018

The other day, for Halloween the king coin was able to finally hit the impressive price of $14k – this has not been seen for a while now, since January 2018.

At the moment of writing this article, Bitcoin is trading in the red, and the digital asset is priced at $13,681.50.

Recently, MicroStrategy’s Michael Saylor said that people who are waiting for BTC to crash or individuals who are buying and selling on a daily basis should change their approach – it seems that he expects more large entities like himself to “stampede” into BTC.

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I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.