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Fidelity Digital Assets Expanding to Europe
Fidelity Digital Assets Expanding to Europe

Is This the Christmas Miracle Bitcoin Has Been Waiting For?

 

In 2014 the world of institutional finance first tested the waters of Bitcoin. This was when the second largest mutual-fund provider, Fidelity Investments initially mined Bitcoin and allowed clients to view their holdings. Fidelity Investments later launched Fidelity Digital Assets in 2018 to manage all cryptocurrency related activities.

Fidelity Digital Assets mainly provides buying, selling and custody services to corporations, hedge funds, and cryptocurrency fund managers. It was one of the few companies to receive a New York BitLicense, a license to buy or sell cryptocurrencies which is notoriously hard to receive.  They have slowly grown to 100 employees in Boston but plan to keep on growing. Earlier today It was announced that Fidelity Digital Assets will expand to Europe.

 

Fidelity Digital Assets Now in London

It appears that Fidelity's European expansion will begin in London and it will offer cryptocurrencies to the continent. It plans on offering its services to European hedge funds as well as family offices and market intermediaries.

While Fidelity have announced their launch, their anticipated roll-out might take some time. This is due to the fact that they have not obtained all the necessary licensing required. Fidelity Digital Assets will likely be operational in Europe in a matter of months.

"The demand we've seen for Fidelity's digital asset custody and trade execution services has been borderless, and we're scaling our business to operate in a variety of jurisdictions to support this industry for the long-term," said Chris Tyrer, Fidelity's newly appointed manager of European business.

Should Fidelity keep on growing we will likely see it in more locations. The best bet for Fidelity's future expansion would be Asia in the future and more specifically Singapore.

 

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Written by Jonathan Ganor

Writer & cryptocurrency aficionado

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