The official launch of the crypto-custodian service Fidelity may take place in March
The launch of the crypto-custodian service of the asset management company Fidelity Investments may take place in March, writes CoinDesk.
Fidelity Digital Asset Services LLC’s (FDAS) asset storage component is already operational and is being used to manage some of them, a source familiar with the matter said..
“We currently serve a limited number of customers qualified to work with the service, while we ourselves continue to work on initial solutions,” the company said. “In the coming months, we will interact with clients and select the most promising ones based on needs, jurisdiction and other factors.”.
According to Bloomberg, the company will initially provide a storage solution for Bitcoin, and then – Ethereum..
The March launch is consistent with earlier comments from FDAS chief Tom Jessup. In December, he announced that the service would open in the first quarter. It is not known whether another component for concluding brokerage deals with crypto-assets between Fidelity clients and market makers will be presented along with this..
The company announced a platform for storing and trading cryptocurrencies last fall. Jessop then said that institutional clients show some interest in entering the cryptocurrency space, but for this they “need a trusted platform provider.”.
“These institutions need an advanced level of service and security comparable to what they have when trading stocks and bonds,” he said..
Jessop later revealed that the Fidelity service would not be limited to Bitcoin and Ether and intends to consider adding “the next four or five assets in order of capitalization.” Nevertheless, according to him, while the interest of customers is reduced to the two named cryptocurrencies.
FDAS can also start working with security tokens, but not before this space develops to the desired level, Jessop said..