Fidelity investments, world’s fifth largest asset manager’s foray into the cryptocurrency market with Fidelity Digital Assets is the biggest step taken by any asset manager.
The company will offer three major services namely
- Custody services for bitcoin, ether and other digital assets – this service allows institutional investors to secure their assets using a physical vault. These vaults will be located across geographies making them separate from internet thereby becoming more secure against hacks
- Trade execution services – executing third party trading using cryptocurrencies with the help of internal crossing engine and smart order router
- Dedicated client services – client services team that is operational 24/7
Tom Jessop, founding head of Fidelity Digital Assets said there is growing awareness among all types of people and everyone is interested in digital assets thereby increasing institutional demand and stated it as a huge recognition.