Breaking: Fidelity announces Bitcoin [BTC] custody service live with a select group of eligible clients

Breaking: Fidelity announces Bitcoin [BTC] custody service live with a select group of eligible clients

Fidelity Investments, the largest asset management firm, digital assets solution branch – Fidelity Digital Assets – announced that its Bitcoin custody service has gone live with “a select group of eligible clients”, earlier today on their official Twitter handle. The firm, aiming at providing custodial services to institutional investors, first made an announcement regarding this news in late January. Here, they stated that have selected clients to whom they will be serving their initial solutions.

The announcement read:

“We are live with a select group of eligible clients and will continue rolling out slowly. Our solutions are focused on the needs of hedge funds, family offices, pensions, endowments, other institutional investors”

The solutions provider had stated that they have built a strong technical and operational standards best suitable for institutions, meeting clients expectations from an investment giant, in their initial announcement. They had also stated that their initial clients are “an important part” of the “final testing and process refinement periods”. This, in turn, would help the Fidelity provide services to a “broader set of eligible institutions.”

The blog post read:

“Our mission is much broader than products. Institutional interest in digital assets is expanding, and these organizations require sophisticated capabilities in order to proceed.”

This comes as a euphoric announcement to several members of the community as it marks as one of the first steps taken to open the cryptocurrency market, especially Bitcoin market, for institutional investors. This is mainly because of the custody solutions and trading venue platform provided by the financial giant. More so, some also believe that the changes bought by institutional players of Fidelity would bring some light in the regulatory stance on Bitcoin and other cryptocurrencies.

XRP Raconteur, a Twitterati said:

“Congratulations FDA on your soft launch. I can’t wait to see your full launch. It’s going to be LOCO !!!”

Alec Ziupsnys, another Twitterati said:

“Fidelity’s digital assets trading and custody business is live and supporting bitcoin. When are institutions joining the game? Well, now. “

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