Fidelity launches Bitcoin services

Fidelity, an American financial giant, is launching Bitcoin services for its customers. She does this under the Fidelity Digital Assets entity. With this step, thousands of institutions and customers, worth many trillions, will soon be able to buy, sell and store bitcoins under the management of Fidelity.

More than 13,000 consultancies and brokers hold assets worth more than $ 7 trillion with the financial services provider. That’s a seven with twelve zeros. This makes Fidelity the fourth largest asset manager in the world.

They want to offer a storage solution for bitcoins for the customer base, where this is currently hardly possible for institutions. This service aims to provide institutional investors with a compliant way to securely store bitcoins in a physical vault, geographically distributed.

In addition, the company also wants to facilitate the purchase and sale of bitcoins for customers. They will not set up an exchange themselves, but will place orders on external exchanges on behalf of the customers.

It is the first financial service provider to officially spend its energy on bitcoin. The plans are just the beginning of services that could be offered. In addition to bitcoin’s current store of value use case, Fidelity sees the possible future applications as a reason to get involved with this completely new kind of asset class now.

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