Fidelity Will Start Institutional Bitcoin Trading Within Weeks
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by Tyler Durden
Mon, 05/06/2019 - 12:56

Authored by William Suberg via CoinTelegraph.com,

$7 trillion investment firm Fidelity will reportedly roll out bitcoin trading for institutional clients in the coming weeks, Bloomberg reported on May 6.



mage courtesy of CoinTelegraph

Citing a source who asked to remain anonymous, the publication revealed Fidelity’s cryptocurrency-focused spin-off, Fidelity Digital Assets, would be adding to the existing range of services.

The subsidiary launched in October 2018 and has offered cryptocurrency custody from March this year ahead of planned over-the-counter (OTC) trading.

Now, the trading side will go live for Fidelity’s users in as little as several weeks, the source said, and will primarily target large-volume traders like other OTC offerings.

While Fidelity itself did not confirm the time frame, the company hinted that its future direction would only involve more integration with the bitcoin space.

“We currently have a select set of clients we’re supporting on our platform,” spokeswoman Arlene Roberts told Bloomberg. She added:

“We will continue to roll out our services over the coming weeks and months based on our clients’ needs, jurisdictions, and other factors. Currently, our service offering is focused on Bitcoin.”