Fidelity goes live with their Crypto Asset Platform!
Fidelity Digital Assets just went live!
Back in January, Fidelity announced that they would roll out their digital asset platform in March of this year.
Well, here we are in March and Fidelity announced that they have gone live with the platform, for selected clients.
Fidelity Digital Assets is the arm of Fidelity dealing with cryptocurrencies.
(Source: https://www.coindesk.com/fidelity-looking-to-expand-digital-asset-trading-beyond-bitcoin-and-ether)
Some details:
Back in October of 2018, Fidelity first announced that they would be building out a platform to better service the needs of their institutional clients.
Specifically, they said they wanted to meet institutional trading and custody standards as well as regulatory requirements for cryptocurrencies...
It appears they are well on their way!
From the company:
“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.”
(Source: https://cointelegraph.com/news/fidelitys-digital-asset-platform-goes-live-with-select-clients)
Only a select group of clients are live now but over the coming months Fidelity expects to continue to build out their services and make them available to many more clients.
Demand keeps increasing!
According to Fidelity the bear market hasn't had any negative effects at all on demand from institutional clients.
In fact, demand is better than ever!
This from the head of the Fidelity Digital Asset arm:
"If anything, they (institutions) are as encouraged now as they were when prices were higher."
(Source: https://cointelegraph.com/news/fidelitys-digital-asset-platform-goes-live-with-select-clients)
This is very good news for the crypo space!
Fidelity has roughly $7 trillion under management, close to 10 million customer accounts, and over 500 large institutions as clients.
It's very good to have them getting involved with the crypto space!
Stay informed my friends.
-Doc
I want to go live 😡
Why is that?
im sort of sad the institutions are getting involved they will destroy everything but in the meantime i will make quite a bit of bread
everything is in the red today but LOOM is flying up 25 percent as i speak
everyday im getting a crypto of mine that goes up 20 ti 40 percent yesterday was IOTX today its LOOM
what will it be tmrw lol
have a great day and things are finally turning around cheers keep up the great articles and sorry for the spam following me around compliments of that whackjob beaniesanders
again have a great day jr
Why do you think they will destroy everything?
well not destroy everything but definitely take some freedoms away from the people
for example the war on cancer they get involved more cancer than ever
the war on terror more terrorists than ever
the war on poverty more poor than ever
everything these [people touch and regulate and take control of turns to shit eventually
just look at our childrens education for example
i could go on but you get the point lol
otherwise im excited about the crypto market very much so
i know even without the regulators cryptos would stand on their own two feet either way
cheers
I think they will help legitimize the asset class and bring in trillions of dollars. Overall, hugely net positive.
sorry for the spam you are getting cause of me jr
this guy is something else
he expects me to keep quiet cause he doesnt like my opinion lol
when he started attacking senior citizen old women well that was more than i can stand
i will stay off your post until i deal with this maniac
you dont need this spam on your posts cause of me
in the meantime i will be reading everything your posting
again sorry for the spam from beanie and have a great day
No worries.
couldnt agree with you more im just not happy seeing a illigitemate govt legitimizing decentralization
its a joke really but yes its going to benefit us big time
i for one will not be buying any govt or bankers coins EVER lol
but it will increase my standard of living now that the real criminals are getting involved
cheers and kkep up your posting man i think you do really good work here on keeping up to date on whats going on
also cryptopia is backup and open for businuss
looks like only erc 20 tokens and ethereum was hijacked
again have a great day bud
I agree. The banker stable coins are going to be very different.
Great stuff. Finally we have been getting more good news than bad. We have been on a nice uptrend since Dec. hope it keeps it up.
Posted using Partiko iOS
I hope so as well. We should have this picking up pace over the next few months as well as Bakkt launching. I think those two may be able to break us out of this bear market once they start going full throttle.
A good thing, this platform is a client, and it can have a big effect on Steemit
Not sure about that, but it will certainly help the space overall.
Besides this platform can be more able to introduce to all new people there, we hope this will be a positive thing.
Yep, that is true and would be a good thing.
Institutions know that this is the next big thing, think about it, this is like the stock market, but while in the stock market the stocks don't have any use-cases, in the crypto market the cryptos have use-cases and can be staked! The potential is much higher than the stock market!
And I've seen countless of large companies, that make millions per years, getting on the blockchain, I've seen cryptos that were created by companies that make 4 million per year, with a trading volume on their website of 18 million per month, think about these companies using blockchain tech, think about all that volume going through the blockchain and the price increasing every single time
For sure. They smell the money and are after it!
I have a feeling we will not immediately see this impact as it many be more moving assets to custody rather than purchases and even when that happens, it may be OTC transactions which are also excluded from public transactions.
Posted using Partiko iOS
I think you are likely right. It most likely will impact things later on in terms of more price stability, especially on sell offs as institutions won't be panic selling and likely setting up buy orders that will help put in floors.