April 25, 2024

$ 2.46 trillion asset manager launches service for storing bitcoins

Financial corporation Fidelity Investments has begun a full-scale launch of a custodial service forinstitutional 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. Target audience of the enterprise &#8212; hedge funds, family offices and financial advisors.

&#171;Many people own significant capitalin cryptocurrencies, probably &#8212; Bitcoin. They are waiting for someone to whom they can transfer these coins for safekeeping. In the event of their death, which will happen sooner or later, they need a plan to transfer these coins to another person&#187;, &#8212; said Johnson, one of the richest and most powerful 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:

&#171;Most people have never heard of this company. It has no relationships with independent [financial] advisors.

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.