Fidelity set to Launch Bitcoin Custody Solution for Institutional Investors Starting March 2019

The fifth largest asset managers in the world, Fidelity Investments will be helping Bitcoin emerge as every institutional investor’s favorite asset by launching a Bitcoin custodial product.

It is scheduled to release in the first quarter of 2019, with the most likely date to be set in March 2019.

A statement released indicates that a select set of clients are already offered Fidelity’s custodial services for Cryptocurrencies. These clients will be used to help create a robust infrastructure surrounding Bitcoin.

Fidelity already supports Cryptocurrencies with the launch of a subsidiary called Fidelity Digital Asset Services in October 2018. Fidelity boasts of an astounding $2.5 trillion in assets and a wide spread of 13,00 financial institutions working with it makes it essential for the Cryptocurrency industry. The trustability of the brand ‘Fidelity’ will bring institutional investors much closer to Cryptocurrencies.

At the time of writing Bitcoin is slumping below the $3,500 mark. It is currently valued at $3,457 with a market capitalization of $60.5 Billion.

However, doubt has risen from the institutional investor’s point of view as Bakkt has been postponed to an unspecified date. Hence the March 2019 release of Fidelity’s Bitcoin custodial product could also be delayed to a much later date due to regulatory confusions about digital assets.

Never say never though, all eyes are towards Fidelity’s crypto friendly CEO Abigail Johnson now!

In other news:  Nasdaq Set to Launch Bitcoin Futures in Q1 Next Year According to Sources

Also Read:


Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity

Did you like the news you just read? Please leave a feedback to help us serve you better

Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.

Amrit Mirchandani

Blockchain Lover | Hustler | Cryptocurrency Enthusiast

Share
Published by
Amrit Mirchandani

Recent Posts

Bullish Signals for Sui Blockchain: Top SUI meme projects of 2024

Macro guru and Real Vision CEO Raoul Pal shone the spotlight on a rising layer-1…

1 month ago

AI Companions: A New Era of Digital Relationships and Virtual Experiences

As the technology landscape transforms at lightning speed, AI Companions has positioned itself as a…

2 months ago

zkCross Network: Simplifying DeFi Complexity and Achieving Fundraising Success

Did you know that 85% of DeFi value is concentrated in six blockchains?  DeFi is…

2 months ago

Don’t Miss Out: Get $CLP Tokens in the Exclusive RWA IDO Now!

CLAPART - a groundbreaking RWA platform has launched its much-anticipated $CLP token IDO on Gempad…

2 months ago

Step into the Future of Web3 at Blockchain Futuristic Conference 2024, August 13-14

Join us at BFC 2024 to explore the future of Web3. Use a special discount…

3 months ago

WebX Asia 2024: Web3 Innovation Ignites in Tokyo

Catch all the updates with Altcoin Observer, official media partner of WebX Asia 2024. Gear…

3 months ago