Fidelity’s Bitcoin Service Goes Live – Incoming Institutional Money Expected
Fidelity Digital Assets is finally live, and this can bring some much-awaited change in the crypto space.
They are offering the trading and securing of crypto for a “select group of eligible” institutional investors.
The company currently has a Bitcoin custody service that’s focused on the needs of family offices, hedge funds, pensions, and endowments, as Investinblockchain revealed.
Fidelity made the announcement on Twitter.
Fidelity Digital Assets is a branch of the asset management company Fidelity Investments.
They’ve been making headlines again recently after they have announced the development of their custody service and even participating in the Lightning Torch event.
The announcement is perceived as bullish
The news has been received with open arms by the crypto community.
A lot of experts are saying that this is definitely a bullish sign for the market and the video below makes sure to explain the same thing.
After Fidelity, more institutions are expected to come up with their very own solutions this year.
The reason for which Fidelity’s move is essential is the fact that it solves a stringent issue of trust for institutional investors.
They will be able to finally have a taste of crypto but now in a transparent and legal way.
We are live with a select group of eligible clients and will continue rolling out slowly. Our solutions are focused on the needs of hedge funds, family offices, pensions, endowments, other institutional investors. More on our project: https://t.co/EkJ2pWJt2Y #DCBlockchain
— Fidelity Digital Assets (@DigitalAssets) March 7, 2019
Getting ready for mainstream crypto adoption
2019 might be the year of mainstream crypto adoption, judging by all the moves that are taking place in the crypto space at the moment.
For instance, NASDAQ just invested a massive amount of money to finance a startup that develops Enterprise blockchain solutions.
An official press release reveals that Symbiont has successfully closed a $20 million Series funding round.
After a bearish 2018, this year was expected to be a better one in terms of price and especially regarding the crypto mass adoption.
Bitcoin and crypto related price predictions have also gotten more bullish these days.
Andreas Townsend Author
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.