February 1, 2023

$ 2.46 trillion asset manager launches service for storing bitcoins

Fidelity Investments Finance Corporation has launched a full-scale custodial service for institutional bitcoin investors after nearly a year of closed testing, CEO Abigail Johnson told the Financial Times.

At the last test stage, everyoneInstitutional clients will be able to test the capabilities of Fidelity Digital Assets solutions. The target audience of the company is hedge funds, family offices and financial advisors.

“Many people own substantial capital incryptocurrencies, probably bitcoin. They are waiting for the one to whom these coins can be deposited. In the event of their death, which will happen sooner or later, they need a plan to transfer these coins to another person ”“Said Johnson, one of the richest and most influential women on the planet according to Forbes.

$ 2.46 trillion asset manager launches service for storing bitcoins

Reuters / Brian Snyder Photo

About the competitor in the person of Coinbase Custody, Johnson spoke as follows:

“Most have never heard of this company. She has no relationship with independent [financial] advisers. ”

In August, $ 7 billion worth of assets were in Coinbase Custody's vaults.

Recall that in early September, the deposit service Bakkt Warehouse began accepting deposits.