Fidelity starts crypto unit By Seeking Alpha

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Fidelity starts crypto unit

Stock MarketsOct 15, 2018 01:46PM ET

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Fidelity Investments announces that it's getting into crypto by starting a new unit, Fidelity Digital Assets Services, to manage digital assets for hedge funds, family offices, and trading firms.
It will offer security and storage services, trade execution and client support services.
"Our goal is to make digitally-native assets, such as bitcoin, more accessible to investors," says Abigail P. Johnson, chairman and CEO of Fidelity Investments. "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."
The new unit, now a stand-alone business, started in the Blockchain Incubator at Fidelity, which began in 2013. The incubator continues to research and experiment with blockchain and digital assets.
Previously: Goldman Sachs (NYSE:GS) considering offering custody for crypto funds: Bloomberg (Aug. 6)
Related tickers: OTCQX:GBTC, COIN, RIOT, OSTK, SSC, MARA, UEPS, OTC:BITCF, XNET, GROW, OTCPK:BTSC, OTCQB:BTCS, OTCQB:MGTI, OTCPK:BTLLF SRAX, OTCPK:GAHC, OTC:ARSC, OTCPK:USTC, OTCPK:BLKCF, COINB, BTC-USD, ETH-USD, XRP-USD, BCH-USD
Now read: Coinbase's active traders decline; index fund to close

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