Crypto Custody Services From Fidelity Set to Launch

Crypto Custody Services From Fidelity Set to Launch

In a new interview, the CEO of Fidelity Investments has announced the roll-out of their much-anticipated crypto custody service.

Speaking to The Financial Times, CEO, Abigail Johnson explained that after year-long preparation it was ready to venture into this new area of cryptocurrency investment. This was described by Johnson as “enterprise-quality custody and trade execution services”.

Before explaining the reasoning behind the new service,“There are people out there with significant amounts of wealth in cryptocurrencies, probably bitcoin, and they’re looking for somebody to hold those coins for them because in the event of their passing — which is going to happen at some point or another — you’ve got to have a plan to be able to get those coins to somebody else.”

The new service will be a rival to the pre-existing Coinbase Custody service which is well-established in the cryptocurrency world and is the world’s largest crypto custodian. However, as Johnson beliefs, is not one that has the same global presence as Fidelity. Stating that the leading crypto firm “is still a company that most people had never heard of, and they don’t have the existing relationships with the independent advisers.”


This follows a series of crypto-centric moves from the investment firm since the start of 2019. In March they announced the launch of a digital assets wing, which they appointed an ex-Coinbase sales exec to head up, who may or may not have had an input in this latest move. Then, in May, crypto trading was poised to launch. As such, this sees their sights further set on the fast-growing world of cryptocurrencies.

You can read the full interview at The Financial Times.

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