Fidelity crypto trading platform ready to launch
Back in October 2018, Fidelity has made a loud announcement of stepping into the cryptocurrency market. For these purposes the globally recognized trading company has created a separate entity, called Fidelity Digital Asset Services. The subsidiary will focus on custody and trade execution for digital assets, with its main market being focused on hedge funds, family offices and market intermediaries. Notably, Fidelity Digital Asset Services will not be open to retail investors.
According to the official blog post shared by Fidelity on January 31, the trading platform is currently in the “final testing and process refinement periods” and is almost ready for a public launch. Currently, it’s in the test pilot stage, providing the services to a select, narrow group of clients.
“Our initial clients are an important part of our final testing and process refinement periods, which will eventually enable us to provide these services to a broader set of eligible institutions,”
Fidelity statement said.
According to the company’s representative, in the current stage they’re going over some final checks to make sure all regulatory compliance is in place in their new cryptocurrency-oriented platform.
Fidelity crypto custodial service is scheduled to launch in March 2019.