Fidelity Investments Inc, the Boston based multinational financial services corporation, is looking to launch its crypto custody service in March 2019. Known as Fidelity Digital, the custody service will initially looking to store Bitcoin (BTC) for institutions, mainly hedgefunds according to Bloomberg. In a statement, a spokesman at Fidelity said;
We are currently serving a select set of eligible clients as we continue to build our initial solutions,
Abigail Johnson, the CEO of Fidelity, has been keen on digital assets. Under her leadership, Fidelity had began mining Bitcoin (BTC) in 2015. Fidelity could be the key to institutional adoption. Working with over 13,000 financial institutions, many of them may be open to investing in Bitcoin (BTC), now that a safe 3rd party custody solution is available. Fidelity has $2.5 trillion under asset management as of 2018. The firm operates a brokerage, manages mutual funds, provides investment advice, retirement services, life insurance, securities execution and clearance, and, hopefully adding to this, also a cypto custody as of March 2019!!