Leading financial services provider Fidelity Investments is launching a new company focused on providing enterprise-grade digital asset solutions for institutional investors.
The U.S. based company with more than $7.2 trillion in client assets, launches Fidelity Digital Asset Services, aiming to offer enterprise-quality custody and trade execution services for digital assets to sophisticated institutional investors such as hedge funds, family offices and market intermediaries.
According to Abigail P. Johnson, Chairman and CEO of Fidelity Investments, the aim of launching the new company is to make digital assets 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”, he added.
Tom Jessop, head of Fidelity Digital Assets in his turn told that the company started blockchain and digital assets research a few years ago.
“Those efforts have been successful in helping us understand and advance our thinking around cryptocurrencies… The creation of Fidelity Digital Assets is the first step in a long-term vision to create a full-service enterprise-grade platform for digital assets.”
As reported, Fidelity Digital Assets will provide a secure, compliant, and institutional-grade omnibus storage solution for bitcoin, ether and other digital assets. In addition, company’s clients will have access to a team of client service specialists, from onboarding throughout the entire relationship with the company.
Let us remind, that Fidelity started researching digital assets in its Blockchain Incubator in 2013. Fidelity Charitable began accepting bitcoin as charitable donations in 2015. As a result, it received $69 million in digital asset donations in 2017, a ten-fold increase since 2016.