Fidelity will launch a bitcoin custody service from March
The company Fidelity Investments will launch its bitcoin custody service which could help ease fears of operating with cryptocurrencies
At the end of last year, Boston-based Fidelity Investments announced that it would offer a range of cryptographic products designed for large investors such as hedge funds.
The storage of bitcoin will be the first product available, according to the employees of three companies that spoke with Fidelity. The company will have a custody service, a common practice in traditional financial markets. It implies that a third party keeps the values to reduce the risk of them being lost or stolen.
Fidelity Digital Assets will bet on Wall Street’s incipient appetite for trade and the protection of digital currencies. The consortium hopes to take advantage of its reputation and win over institutional clients interested in digital commerce. The company already works with more than 13,000 financial institutions.
Fidelity Investments expresses that the risks of custody include the management of cryptographic keys for clients, avoiding hackers and staying within compliance limits, they hope to achieve it.
It should be remembered that Fidelity Investments is a multinational financial services corporation and is one of the largest asset managers, with approximately $ 2.5 trillion in funds under management.
L.Sáenz
Source: Diario Bitcoin
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