Fidelity Offers Bitcoin Custody Solution For Retirement Accounts
Fidelity made headlines not too long ago when it’s been revealed that Fidelity Digital Assets, the Bitcoin and crypto custody arm of Fidelity Investments would be acting as the custodian for a new BTC trust.
“The Shares will provide investors with exposure to bitcoin in a manner that is accessible and cost-efficient without the uncertain and often complex requirements relating to acquiring or holding bitcoin,” according to official notes.
Fidelity offers Bitcoin custody solution for retirement accounts
Now, it’s been just revealed that Fidelity Digital Assets will be acting as the exclusive Bitcoin custodian for Kingdom Trust’s recently launched Choice retirement solution, according to the latest reports coming from he Daily Hodl.
Choice is a retirement account that is allowing investors to allocate their retirement funds to both digital and traditional assets.
In a press release, Kingdom Trust said that Fidelity Digital Assets, would be the sole cold storage provider for digital assets in Choice.
The online publication mentioned above notes that Ryan Radloff, CEO of Kingdom Trust, said the following:
“Personally, I’ve grown to trust the Fidelity family of brands as an individual investor in the traditional markets and now the bitcoin in my Choice retirement account can be kept secure by Fidelity Digital Assets,” he stated.
He continued and explained that “For anyone who was considering bitcoin as part of their retirement portfolio, but was waiting for the infrastructure to mature and for familiar names to enter the space, that day is today.”
People who will make the choice to secure their BTC through the custody solution will not have access to private keys, but instead, Fidelity Digital Assets promised safekeeping and a 1% fee on assets that are held.
This partnership will reportedly be one more step towards the mass crypto adoption.
The mainstream adoption of crypto assets has been one of the main goals of the crypto space.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.