According to a recent report, the crypto currency department of Fidelity, a US financial services giant, recently launched its Digital Assets platform. The newly launched platform is only available to selected groups of customers.
Fidelity Digital Asset Platform
"We live live with a select group of eligible customers and are evolving slowly. Our solutions are tailored to the needs of hedge funds, family offices, pensions, foundations and other institutional investors. "Wrote the company on his Twitter account.
The company began developing its platform in October 2018 to meet institutional trading and custody standards and regulatory requirements. A recent announcement in January announced that it was in the final phase of the new Digital Asset Service.
A January report also states that the Company's bid for Bitcoin (BTC) will be operational by March 2019.
Tom Jessop, director of Fidelity Digital Assets, has shown that while the project is live, it is already working on different parts of the platform. He then pointed out that although some users have been on the platform since January, others may have to wait until September as the use of the platform depends on the facts and circumstances of each client.
He added that the bear market that occurred last year did not affect the company's performance as the institutional interest in virtual currencies continued to grow. However, he said that "if you put on a crypto fund at the height of the market, you're probably hurting right now."
According to a statement issued by Fidelity in February, it said it would continue to expand its customer base as the company evolves.
Fidelity CEO is hot on Cryptos
Fidelity's Chief Executive Officer, Abigail Johnson, has always been a strong believer in digital currencies. In 2017, she introduced Bitcoin and Ethereum (ETH) to the company. Since then, the company has invested in new technologies that could be beneficial to the evolution of the business model. The company is reportedly spending $ 2.5 billion a year on new technologies such as artificial intelligence and blockchain.
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Post source: The Fidelity Digital Asset Platform will be live for selected clients
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