Investment giant Fidelity will allow customers to trade cryptocurrency. Why is it important

Us investment firm Fidelity, under which the asset is situated more than 7.2 trillion dollars, has registered a subsidiary firm Fidelity Digital Asset Services. It will allow institutional investors to trade the digital assets.

The company will provide services only to hedge funds and institutional investors. For retail players, they will be unavailable, the statement Fidelity. For the first time customers will be able to conduct operations with Ethereum and Bitcoin, and in the future Fidelity Digital Asset Services will add support for other coins.

When institutional investors come to the stock market

In addition to trade, the firm will provide storage services for coins, and it will be responsible for the passwords to your cryptocurrency wallets, said company Director Tom Jessop. According to him, Fidelity studied the blockchain and cryptocurrencies for several years.Now the management has decided that it is time to make them available to customers.

In its press release, Fidelity refers to the study of Greenwich Associates. According to the results, 70 percent of institutional investors see the serious role of the cryptocurrency in the future of the financial sector. Many of them are still “sitting on the sidelines”, as large companies still have not produced working tools for trading on the stock market.

Photo: shutterstock

Jessop added that Fidelity Digital Asset Services will use all the “resources of its parent organization.” Now Fidelity is already working with “more than 13 thousand” institutional customers. If at least some of them will decide to invest in a cryptocurrency, the market growth is inevitable.

The growing interest of the representatives of the traditional financial system to the cryptocurrency can not but rejoice the more big investors will come on the market digital assets, the higher will be the rate of Bitcoin and other coins. Everyone will benefit from it.

SUBSCRIBE TO OUR CHANNEL IN THE TELEGRAM TO LET EVERYONE KNOW.

Leave a Reply

Your email address will not be published. Required fields are marked *