Fidelity wins bitcoin trading and custody licence in New York - page 2.

Duzter

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Quote from: avikz on November 21, 2019, 07:36:11 AM

Below is the official link of the news

https://www.fidelitydigitalassets.com/news-perspectives

Fidelity international sets up a subsidiary company to foray into crypto market known as "Fidelity Digital Assets" and the NY license is granted to them!

While it's a good news in general, but their business is open for only institutional investors and not common people like you and I.

The service is very limited. This means it is like private sale that's been done when new projects reach the market. Anyhow this is a big step forward from an financial service rendering firm. As a beginning to the cryptocurrency usage it could've started with the Fidelity Digital Assets and providing access to institutional investors. As days pass it will give way to small scale investment.

audaciousbeing

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Quote from: alyssa85 on November 20, 2019, 08:05:23 AM

According to the Financial Times:

https://www.ft.com/content/eb3fce1c-0a80-11ea-b2d6-9bf4d1957a67

Quote

Fidelity has been granted a trust licence to offer trading and custody of bitcoin by the New York State Department of Financial Services, as the asset management group continues to woo cautious institutional investors into the “Wild West” of digital assets.

The move allows Fidelity’s new digital assets subsidiary to launch a digital currency custody and execution platform “on which institutional investors and individuals can securely store, purchase, sell, and transfer bitcoin” to New York residents, the DFS said.

Boston-based Fidelity, which has about $2.8tn of assets under management, made clear last year it intended to take the plunge to offer digital assets services to Wall Street, where other regulated groups have held back from the nascent marketplace.

This is potentially huge. Fidelity has a lot of existing customers who use their online investment services - so making it easy for this group to trade bitcoin may mean a lot of new money entering the bitcoin space.

This is a good news really for the company to have been able to secure the license to carry out this line of business. The point now is to ensure that they are doing the right thing. While this naturally would have negate the principle behind bitcoin as we have come to know that there should not be a custodian rather everyone should be his/her bank without no intermediary but at the this time, there is justifiable reason to deviate because if we want the massive adoption we are hoping for, then the corporate world needs to be involved and accepted into the fold.

kaya11

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Quote from: alyssa85 on November 20, 2019, 08:05:23 AM

According to the Financial Times:

https://www.ft.com/content/eb3fce1c-0a80-11ea-b2d6-9bf4d1957a67

Quote

Fidelity has been granted a trust licence to offer trading and custody of bitcoin by the New York State Department of Financial Services, as the asset management group continues to woo cautious institutional investors into the “Wild West” of digital assets.

The move allows Fidelity’s new digital assets subsidiary to launch a digital currency custody and execution platform “on which institutional investors and individuals can securely store, purchase, sell, and transfer bitcoin” to New York residents, the DFS said.

Boston-based Fidelity, which has about $2.8tn of assets under management, made clear last year it intended to take the plunge to offer digital assets services to Wall Street, where other regulated groups have held back from the nascent marketplace.

This is potentially huge. Fidelity has a lot of existing customers who use their online investment services - so making it easy for this group to trade bitcoin may mean a lot of new money entering the bitcoin space.

Another good news for the crypto space, especially to bitcoin network, things will get lively again. Not mention New York- it is a big city and have been for a city that never sleeps, well I guess all of the transaction all around the world in the bitcoin network dosn't sleep at all.

Mometaskers

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Ah, I still remember that Fidelity lady talking about Bitcoins years ago, the same lady that went around trying to buy stuff using gold. I've always had a feeling they are going into this market. It seems it's only offering the service to institutions rather than individuals for now but this is a positive development I hope.

At least we are having more money flowing into the market as Wall Street investors start buying crypto.

alyssa85

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Quote from: avikz on November 21, 2019, 07:36:11 AM

Below is the official link of the news

https://www.fidelitydigitalassets.com/news-perspectives

Fidelity international sets up a subsidiary company to foray into crypto market known as "Fidelity Digital Assets" and the NY license is granted to them!

While it's a good news in general, but their business is open for only institutional investors and not common people like you and I.

Institutional investors have a lot of money though. And bitcoin and cryptocurrency in general needs an influx of new money.

avikz

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Below is the official link of the news

https://www.fidelitydigitalassets.com/news-perspectives

Fidelity international sets up a subsidiary company to foray into crypto market known as "Fidelity Digital Assets" and the NY license is granted to them!

While it's a good news in general, but their business is open for only institutional investors and not common people like you and I.

Serco

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Quote from: alyssa85 on November 20, 2019, 08:05:23 AM

According to the Financial Times:

https://www.ft.com/content/eb3fce1c-0a80-11ea-b2d6-9bf4d1957a67

Quote

Fidelity has been granted a trust licence to offer trading and custody of bitcoin by the New York State Department of Financial Services, as the asset management group continues to woo cautious institutional investors into the “Wild West” of digital assets.

The move allows Fidelity’s new digital assets subsidiary to launch a digital currency custody and execution platform “on which institutional investors and individuals can securely store, purchase, sell, and transfer bitcoin” to New York residents, the DFS said.

Boston-based Fidelity, which has about $2.8tn of assets under management, made clear last year it intended to take the plunge to offer digital assets services to Wall Street, where other regulated groups have held back from the nascent marketplace.

This is potentially huge. Fidelity has a lot of existing customers who use their online investment services - so making it easy for this group to trade bitcoin may mean a lot of new money entering the bitcoin space.

it will be good if this news really officially released. with asset management around $2,8tn , fidelity will bring huge liquidity to cryptocurrency market, and ofcourse it will have positive affect to bitcoin or other crypto currency price. most of their money come from whales investors that want earn profit quickly. i think they will suitable invest in crypto market that contained high risk and high reward. my advice dont be hurry to response this news i am just worry its fake and we will trapped .

alyssa85

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According to the Financial Times:

https://www.ft.com/content/eb3fce1c-0a80-11ea-b2d6-9bf4d1957a67

Quote

Fidelity has been granted a trust licence to offer trading and custody of bitcoin by the New York State Department of Financial Services, as the asset management group continues to woo cautious institutional investors into the “Wild West” of digital assets.

The move allows Fidelity’s new digital assets subsidiary to launch a digital currency custody and execution platform “on which institutional investors and individuals can securely store, purchase, sell, and transfer bitcoin” to New York residents, the DFS said.

Boston-based Fidelity, which has about $2.8tn of assets under management, made clear last year it intended to take the plunge to offer digital assets services to Wall Street, where other regulated groups have held back from the nascent marketplace.

This is potentially huge. Fidelity has a lot of existing customers who use their online investment services - so making it easy for this group to trade bitcoin may mean a lot of new money entering the bitcoin space.

Topic: Fidelity wins bitcoin trading and custody licence in New York - page 2. (Read 323 times)