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.

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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.