Fidelity Investments Launches Institutional Platform for Bitcoin and Ethereum


One of the world’s largest asset managers, Fidelity Investments, announced the launch of a unit focused on providing institutional investors with Bitcoin and Ethereum services.

The new division received the name Fidelity Digital Assets and, possessing a staff of 100 employees, will provide a platform for trading cryptocurrencies and consulting services around the clock and seven days a week.

The platform already has its first customers, but its launch for a wider range of investors is scheduled for the beginning of 2019.

“This is a recognition that there is institutional demand for these assets as a class. Family offices, hedge funds, other sophisticated investors are starting to think seriously about this space,” said Tom Jessop, head of Fidelity Digital Assets.

In particular, Fidelity Digital Assets will offer a transaction service that, using internal cross-connect and order routers, will trade through third-party liquidity providers.

One of the most sought-after offers by the company can also be a service for storing Bitcoin and other cryptocurrencies. We are talking about physical storage, distributed in different geographical locations and offering the so-called “cold” storage of digital assets. This way of storing cryptocurrencies without access to the Internet and with a multi-level control system is considered to be one of the safest and most resistant to hacking today.

As the CEO of Fidelity Investments, Abigail Johnson, said, the goal of the new platform is to make digital assets like Bitcoin more accessible to investors.

“Our goal is to make digitally-native assets, such as bitcoin, more accessible to investors.”

Fidelity Investments is considered the fifth largest asset manager in the world, offering investment and custody services to 13,000 consulting firms and brokers. In total, the company manages assets worth $7.2 trillion.

The possibility of launching cryptocurrency services Fidelity Investments announced last month. At the same time, the head of the company Abigail Johnson previously stated that he believes in the potential of digital currencies, and also shows interest in mining and blockchain technology.