FIDELITY PLANS TO OFFICIALLY LAUNCH ITS CRYPTO-CUSTODIAL SERVICE THIS SPRING

The launch of the crypto-custodial asset by management company Fidelity Investments may take place in March.

The asset storage component of Fidelity Digital Asset Services LLC (FDAS) is already running and is being used to manage some of them, a source familiar with the situation said.

According to Bloomberg, the company will initially present a solution for storing Bitcoin, and then – Ethereum.

The launch in March is consistent with earlier comments from FDAS CEO Tom Jessup. In December, he said that the service will open in the first quarter.

The company announced a platform for storing and trading cryptocurrencies, last fall. Jessop then said that institutional clients are showing some interest in entering the cryptocurrency space, but for this they “need a trusted platform provider”.

Jessop later revealed that Fidelity will not be limited to bitcoin and ether, and intends to consider adding “the next four or five assets in order of capitalization.” However, according to him, while the interest of customers is reduced to two named cryptocurrencies.

FDAS can also start working with security tokens, but not before this space will develop to the desired level, said Jessop.

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