The launch of the crypto-custodial service of the asset management company Fidelity Investments can take place in March, CoinDesk writes.
The asset storage component of Fidelity Digital Asset Services LLC (FDAS) is already working and is used to manage some of them, a source familiar with the situation said.
“Currently, we serve a limited number of clients qualified to work with the service, while we continue to work on initial solutions ourselves, ” the company said.
In the coming months, we will interact with customers and select the most promising ones based on needs, jurisdiction and other factors. ”
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 announced that the service would open in the first quarter. Whether or not another component will be presented at the same time for entering into brokerage transactions with crypto assets between Fidelity clients and market makers is unknown.
The company announced a platform for the storage and trading of cryptocurrencies last fall. Jessop then stated that institutional clients show a certain interest in entering the cryptocurrency space, but for this they "need a trusted platform provider."
“These institutions need an advanced level of service and security, comparable to what they have when trading stocks and bonds,” he said.
Later, Jessop revealed that Fidelity will not be limited to Bitcoin and broadcast, and intends to consider adding “the next four or five assets in a capitalization order”. However, according to him, while the interest of customers comes down to the two named cryptocurrencies.
FDAS can also start working with security tokens, but not before this space develops to the desired level, Jessop said.
Publication date 30.01.2019
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