Fidelity Investments, one of the worlds largest and most diversified financial services providers with more than $7.2 trillion in client assets, today announced the launch of a new company, Fidelity Digital Asset Services, LLC (Fidelity Digital Assets). The company will offer enterprise-quality custody and trade execution services for digital assets, commonly referred to as cryptocurrencies, to sophisticated institutional investors such as hedge funds, family offices and market intermediaries. We started exploring blockchain and digital assets several years ago, and those efforts have been successful in helping us understand and advance our thinking around cryptocurrencies, said Tom Jessop, head of Fidelity Digital Assets.
In its most recent edition of the Fidelity Global Institutional Investor Survey2, Fidelity found that 70 percent of institutional investors said that new asset classes will likely emerge because of advancing technologies, such as blockchain. Fidelity Digital Assets is building the foundation needed to further the market adoption by offering: In our conversations with institutions, they tell us that in order to engage with digital assets in a meaningful way, they need a trusted platform provider to enter this space. With Fidelity Digital Assets, were building a scalable infrastructure for digital assets that meets the expectations of what it means to work with Fidelity, while leveraging unique capabilities of the blockchain to create a completely new offering, concluded Jessop.
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