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Fidelity Will Launch a Cryptocurrency Storage Service

Fidelity Will Launch a Cryptocurrency Storage Service

Published by InvestorGreg Editorial Team

January 31st, 2019

The company, which assets under management amount to $2.5 trillion, will present storage for digital money in March.

The start of the cryptocurrency storage service from Fidelity Investments, which assets under management amount to $2.5 trillion, may take place in March, CoinDesk reports. According to sources, the system of the division of Fidelity Digital Asset Services LLC (FDAS) has been already operating, and it is used to store digital money currently.

“We serve a limited number of customers qualified to work with the service, while we continue to work on initial solutions at that time. In the coming months, we will interact with customers and continue to develop the service based on various factors”, – the Company’s management said.

According to Bloomberg, Fidelity will initially provide a solution for storing Bitcoins, after which Ethereum support will appear. Tom Jessop, the CEO of FDAS, said earlier that the service will be launched in the first quarter of 2019. He explained that institutional customers are interested in digital money, but in order to enter this market, they need a more traditional way of storing their funds.

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