February 1, 2023

Fidelity Digital Assets Opens UK Office

Fidelity Investments' Digital Assets Division has opened a representative office in London, through which he plans to start working with European customers. It is reported by Financial News.

UK Fidelity DigitalAssets was registered on Monday, December 16th. It is expected to serve local institutional clients, including hedge funds and family capital management firms, as well as serve as a launching pad for accessing the wider European market.

At the same time, the representative does not have separate permissions from the British regulators, and according to his leadership, there is no need for this.

“Of course, we will make sure that we work inwithin the framework of the British legal field, but as far as we know, we understand the additional licensing for the provision of services in the UK we do not currently need. " Fidelity Digital Assets COO Michael O’Reilly said.

At this stage, Fidelity Digital Assets customersthey can only work with bitcoin, however, already in 2020, the company intends to expand the list of assets. As previously reported in December, the company is actively working to support Ethereum.

Fidelity Digital Assets is a divisionAmerican financial holding company Fidelity, which manages assets for $ 7 trillion. In November, the New York State Department of Financial Services (NYDFS) approved Fidelity Digital Asset as a custodian service and platform for Bitcoin operations.