RATE Group | Fidelity launches cryptocurrency business in Europe
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Fidelity launches cryptocurrency business in Europe

17 Dec Fidelity launches cryptocurrency business in Europe

Posted at 15:40h in Cryptocurrency News by

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One of the world’s largest fund managers has formed a new UK entity to sell cryptocurrency services to European clients.

Fidelity Digital Assets, the cryptocurrency arm of Fidelity Investments, has offered custody and trading tools to financial institutions in the US since 2018. It was given a green light by state regulators in New York on November 20 this year, paving the way for sales to Wall Street investors.

Fidelity’s UK entity, incorporated on December 16, will give the fund manager a platform from which to sell digital asset services to European businesses, including hedge funds and family offices. It does not currently hold any regulatory permissions.

Michael O’Reilly, chief operating officer of Fidelity Digital Assets, told Financial News: “Obviously we’ll make sure that we’re compliant with any UK or any other licenses that are required, but at this point our understanding is that we do not require any additional licensing to do this in the UK.”

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