RATE Group | Fidelity Investments expands bitcoin arm to Europe
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Fidelity Investments expands bitcoin arm to Europe

17 Dec Fidelity Investments expands bitcoin arm to Europe

Posted at 15:37h in Bitcoin News by

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Investment giant Fidelity has expanded its cryptocurrency-focused business, Fidelity Digital Assets, to Europe. According to Financial News, it has appointed Chris Tyrer, a former managing director at the investment bank Barclays, to head the overseas business.

To do so, Fidelity has created a UK entity to run the business—despite the possiblity of a no-deal Brexit happening in the near term.

Fidelity, which has 13,000 clients and $7.2 trillion under administration, launched its cryptocurrency arm in October last year. Fidelity Digital Assets offers enterprise-grade custody services for cryptocurrencies. It currently only supports bitcoin, but plans to expand to other cryptocurrencies, starting with Ethereum in 2020.

On the news, Anthony Pompliano, co-founder at Morgan Creek Digital tweeted, “This is a global game. Even the large Wall Street players realize that. “

 

Fidelity has also made other moves in the crypto space. In July, it invested in New York-based startup…

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