Fidelity Digital Assets is already offering Bitcoin (BTC) services to selected institutional investors. The information was released by the company a few days ago. The firm took this decision after establishing a set of technical and operational standards that institutions can expect from Fidelity.
Fidelity Offers Services to Selected Clients
Institutional investors could start entering the market in the near future. Fidelity Digital Assets is not live with a select group of eligible clients and it will continue to roll out its services in the near future. The solutions focus on the needs of hedge funds, family offices and more.
These first clients will be providing testing and process refinement periods that will enable them to provide these solutions to a broader set of eligible institutions. This is very important for the whole crypto market because institutional and larger investors will have the possibility to place their funds in the market.
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. More on our project: https://t.co/EkJ2pWJt2Y #DCBlockchain
— Fidelity Digital Assets (@DigitalAssets) March 7, 2019
Bitcoin and virtual currencies have been in a bear trend and this could help the digital asset and the space to start growing once again. The firm has been working with the operations, risk and compliance teams to refine their policies and procedures to adapt the existing operational process.
The blog post released by Fidelity Digital Assets reads as follows:
“Our conversations with a variety of institutions have served to underscore their clear need for a trusted platform provider in order to engage with digital assets in a meaningful way. We are committed to exceeding their requirements and standards of existing solutions with both our custody platform and trading venue.”
In this way, the company will be able to provide security and a “central point of market access.” Institutions have been requesting businesses and companies working in the space to create the necessary infrastructure for them to be able to start investing in virtual currencies.
In the future, the company will be engaging with and stage prospective clients according to their needs, jurisdiction and also other factors.
Another company that is working in order to welcome new institutional clients is the Intercontinental Exchange (ICE) with its Bakkt platform. This platform has been delayed on several occasions but the intention is to be able to offer companies the necessary infrastructure to have access to the digital assets market.