Fidelity Nears Launch Of A Cryptocurrency Trading & Custody Platform

The latest crypto news show a lot of excitement around the American financial services firm Fidelity and its already-published announcement in October that they were building a Bitcoin/crypto trading and custody platform.

As of recently, the company announced that the Fidelity Digital Assets Exchange is almost ready to launch. Founded in 1945, Fidelity with this proved its quality as a mutual fund company that over the years became synonymous with providing a vast plethora of services such as wealth management, fund distribution and investment advice solutions.
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The news about Fidelity’s digital assets solution was confirmed in a blog on Medium on January 31st, listing that the company is now in the ‘final testing and processes refinement periods’ for their new platform which is being launched by their new company, Fidelity Digital Assets.

Right now, the firm is working with a small handful of clients to initially help and build the platform as well as lay the foundation for a long-term plan to offer crypto solutions to institutional investors.

As an excerpt from the blog reads:

“It’s been a challenging and rewarding time here, from critical decisions on product direction, to the intensive work of our development teams. Our operations, risk, and compliance teams are actively working with auditors to refine our policies and procedures, adapt existing operational processes, and to set new benchmarks for this aspect of cryptographic and blockchain-based finance.”

Since Fidelity only focused on institutional financial markets, their exposure to the world of cryptocurrency was almost not existing up until last year.