Fidelity Investments offers custody and trading services for cryptocurrencies, reported the Financial Times.
A custodian is the third-party between investors and fund managers to enable all transactions to be transparent, including taking care of the assets of the clients.
Fidelity Investments CEO Abigail Johnson said the customers of the company such as hedge funds and financial advisors are interested in digital assets, especially Bitcoin.
She said these customers need a firm they can trust to look after their money that is invested in the digital coins.
However, Fidelity Investments has not yet offered the trading services to general and small customers. The reason is that these customers need good custodians.
Fidelity Investments has 2.8 trillion US dollars of assets under management. It has invested US$200,000 to set up a bitcoin mining operation in its office in 2014.
Coinbase is the big player in digital asset custody. The company manages billions of dollars worth of digital assets.
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