Custody service Fidelity plans to start working with crypto exchanges
After receiving permission for the provision of custody services from the New York regulator, Fidelity Digital Assets intends to enter into partnership agreements with leading cryptocurrency exchanges.
According to CoinDesk, the cryptocurrency division of the financial holding company Fidelity Investments, is focused on providing services for the storage and transfer of bitcoins for institutional investors through over-the-counter trading platforms. But the company plans to enter the cryptocurrency exchange market, for which they will conclude the first partnership agreement by the end of this year.
As explained in Fidelity Digital Assets, their clients, represented by hedge funds and family funds, are interested in working in the retail cryptocurrency market.