Much excitement has been building since Fidelity Investments – one of the largest mutual funds firms in the US – first announced last year that it is set to launch its Bitcoin custody service in 2019. They are now almost ready to roll out Bitcoin trading for institutional clients soon, sources privy to the matter told Bloomberg on May 6.
The anonymous source revealed that the financial services giant, with over $7.2 trillion in assets under management, is moving forward with a plan that could see the top-ranking digital asset being added to the company’s existing range of services.
The mutual-fund giant revealed last year that it was building cryptocurrency storage and trading platform. At the time, head of Fidelity Digital Assets Tom Jessop said that some of its institutional clients were interested in foraying into the world of cryptocurrency, but “needed a safe and secure storage first.
In October last year, Fidelity announced the launch of its digital asset branch – Fidelity Digital Asset Services (FDAS). However,…