Fidelity Set to Launch Crypto Trading in the Coming Weeks: Report

Boston-headquartered investment firm Fidelity is planning to launch cryptocurrency trading services for institutional clients, according to a Bloomberg report.

Though no timeline is specified, the anonymous source of the publication thinks that the buying and selling of digital currencies will start within the next few weeks.

Growing Market Demand

This news surfaced days after Fidelity published a survey report which concluded that 22 percent of the institutional investors have some form of crypto investments while 47 percent of the participants are willing to add digital assets in their portfolio.

The Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term will operate under Fidelity Digital Asset Services (FADS), a subsidiary created by the company last October. Earlier this year, the investment introduced a crypto custodian service for the same set of customers - hedge funds, family offices, trading firms, and any other high-volume clients.

“We currently have a select set of clients we’re supporting on our platform,” Arlene Roberts, a spokesperson from Fidelity, confirmed Bloomberg. “We will continue to roll out our services over the coming weeks and months based on our clients’ needs, jurisdictions, and other factors. Currently, our service offering is focused on Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term.”

The last time bitcoin broke $6,000...

- Square wasn't selling Bitcoin. - Fidelity wasn't storing Bitcoin. - TD Ameritrade wasn't trading Bitcoin. - Lightning Network wasn't holding 1,000 Bitcoin. — The Rhythm Trader (@Rhythmtrader) May 3, 2019

The crypto market has endured a few major controversial setbacks this year - first with QuadrigaCX, which raised the concern for proper crypto custody, and now the allegations against Bitfinex and Tether. The latter has raised concerns over the legitimacy of the major crypto exchanges which might drive away institutional clients from the market.

The influx of major traditional investment firms towards crypto, however, will add more trust to the market. Fidelity’s competitors including E*Trade and TD Ameritrade are also reportedly considering to jump into the digital asset market.