Fidelity Digital Assets (FDAS) enters European market with a new partnership


  • Fidelity Digital Assets has partnered with London-based crypto asset managers to expose Bitcoin to institutional investors in Europe.
  • The UK arm of Fidelity will only provide Bitcoin support initially and is reportedly planning to expand its crypto range in 2020.

The Bitcoin-centric arm of Fidelity, Fidelity Digital Assets (FDAS), has recently partnered with a crypto asset manager to provide Bitcoin exposure to institutional investors based in Europe. The firms announced that FDAS will act as a custodian for Bitcoin held by London-based Nickel Digital Asset management. 

This collaboration is expected to address the lack of back-office services like crypto custody among major financial providers in a bid to bring the coins into the mainstream. European head of FDAS, Chris Tyrer, said that the obstacles faced by institutional investors taking part in crypto markets are shrinking. These obstacles include regulation, quality of service providers, and volatility

Tryer said:

We see those three factors slowly resolving themselves, and as a result we are seeing a pick up in institutional investor interest.

Tyrer added that organized regulation within the European Union would be beneficial for service providers. The UK arm of Fidelity will only provide Bitcoin support initially and is reportedly planning to expand its crypto range in 2020. The firm hinted that it could start providing support for Ethereum this year. 


 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin breaking out of big bearish pennant

BTC/USD is currently trading at $8,650 (-1.50%) in the afternoon in U.S. hours, price action breaking out to the downside. ETH/USD is currently trading at $167.95 (+0.10%), as the price continues to move within consolidation mode. 

More Cryptocurrencies News

Litecoin Market Overview: LTC/USD range tightens pre-breakout

Litecoin, just like many other cryptocurrencies is dealing with a sell-off that started earlier this week. The rally on Sunday last week reclaimed support above $60. However, the momentum ran out of steam short ...

More Litecoin News

IOTA/USD deals with a devastating 6% plunge

IOTA has been dealing with choppy markets the entire week. Consolidation commenced following the failure to break the resistance at $0.255. The resistance has been impenetrable even though it has been tested on several accounts. 

More IOTA News

Bitcoin Gold Price Analysis: BTG/USD falls below the $10.50 level

BTG/USD is on course of charting a third straight bearish day. So far this Thursday, BTG/USD fell from $10.75 to $10.37, falling below the $10.50 level, in the process. This three-day downward spiral got triggered ...

More Bitcoin Gold

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Bulls piggy-back on altcoins rally

This week was marked by a strong altcoins rally on the cryptocurrency markets. Bitcoin SV (BSV) and Dash experienced the sharpest price increase over 100% in recent seven days...

Read the weekly forecast

BTC

ETH

XRP