US asset manager Fidelity has established a cryptocurrency trading subsidiary.
On Monday night, news that US asset manager Fidelity set up a cryptocurrency trading subsidiary was causing a commotion.
The company manages $ 7.2 trillion of client assets and has 27 million customers. Each year, $ 2.5 billion is invested in technology, such as artificial intelligence or blockchain projects, CNBC writes.
Fidelity subsidiary aims to facilitate wholesale trading with Bitcoin and Co
The newly founded subsidiary Fidelity Digital Asset Services aims to make the trading of Bitcoin and other digital currencies more accessible to investors, Fidelity CEO Abigail P. Johnson said in a statement. This implies that the company offers hedge funds or so-called family offices corresponding services, as Heise Online reports.
The goal is to establish a long-term trading platform for cryptocurrencies, which institutional investors in particular should be able to trade with Bitcoin or Ether. Incidentally, one of the new services is to keep the assets invested in cryptocurrencies, ie the private keys, safe for investors.
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Virtual currency is in many countries not legal tender, or is not backed by the government, and accounts and value balances are not subject to consumer protections. The information does not constitute investment advice or an offer to invest.
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