Fidelity Digital Assets, the digital assets division of financial giant Fidelity, works with a select group of customers, the company said on Twitter.
“We are activated for a select group of eligible customers and will continue to grow slowly. Our solutions are focused on the needs of hedge funds, family offices, pensions, donations, other institutional investors,” wrote Fidelity Digital Assets in a tweet.
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. More on our project: https://t.co/EkJ2pWJt2Y #DCBlockchain
— Fidelity Digital Assets (@DigitalAssets) March 7, 2019
Launching the platform to service institutional investors in the cryptocurrency was announced Fidelity Investments, under which assets are at $7.2 trillion, in October last year.
In an interview with CNBC on the DC Blockchain summit in Washington, the head of the Fidelity of Digital Assets That Jessop (Tom Jessop) said that although the company already operates, “certain aspects are still in the development stage”. According to him, some users are working on the platform since January, some in March, others may wait until September.
“It really depends on the facts and circumstances of each client,” explained Jessop.
He added that many institutional investors are still in the “sit and see” on investments in the cryptocurrency. The main reason for such hesitation is the high volatility of the cryptocurrency market, he said.
However, the results of a survey of 450 institutions, including hedge funds, family pension and welfare funds showed that 22% of the data is large investors already own cryptocurrency. Those who already have the digital assets, are going to double their share in the next five years, despite the bear market.
“Anyway, they are just as excited as when prices were higher,” said Jessop.
We will remind, earlier it was reported that in March Fidelity Digital Assets plans to launch Depositary services for bitcoins.