RATE Group | Fidelity May Expand Crypto Custody to More Assets
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Fidelity May Expand Crypto Custody to More Assets

04 Dec Fidelity May Expand Crypto Custody to More Assets

Posted at 03:13h in Cryptocurrency News by

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fidelity investments blockchain bitcoin crypto

The world’s fourth-largest asset manager, Fidelity, is exploring the possibility of expanding its custodian services beyond Bitcoin to other assets in the crypto market.

Tom Jessop, the head of Fidelity Digital Assets, a cryptocurrency custodial service provider operated by Fidelity, said that the organization is evaluating the demand for the top five cryptocurrencies in the market and may potentially integrate support for the remaining assets.

The Fidelity executive said at the Block FS conference in New York:

“I think there is demand for the next four or five in rank of market cap order. So we will be looking at that.”

The statement of Jessop comes in a time during which major financial institutions like $70 billion Goldman Sachs and $27 billion State Street are waiting for either regulatory clarity or sufficient demand from customers to support cryptocurrencies.

Demand From Institutional Investors

Most of the infrastructure that is being built by leading financial…

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