April 25, 2024

Fidelity Digital Assets Licensed to Trust in New York

The New York State Department of Financial Services (NYDFS) has approved Fidelity Digital Asset Services, LLC (FDAS) ascustodial service and platform for operations with bitcoin. This was reported in a press release.

FDAS will operate as a trust company withlimited liability, focused both on institutional and individual investors. The company's customers will be able to safely store cryptocurrency, as well as carry out trading operations with bitcoin.

“The custodial and trading services we provide are important building blocks for the further massive adoption of digital assets among institutional investors”, said Fidelity Digital Assets COO Michael O'Reilly.

FDAS is a division of the US financial holding company Fidelity, which manages assets of $ 7 trillion.

Recall, the Fidelity division filed an application with NYDFS for a trust license this summer.

Also earlier, ForkLog reported that Fidelity plans to become a custodian for the fund based on bitcoin options.