Fidelity Investments, a Boston-based financial services company which administers over $7 trillion in client assets, will reportedly launch its Bitcoin custody service sooner than expected. The company is targeting a March launch date for the new service, Bloomberg on January 29, citing three people familiar with the matter.
Back in October 2018, Fidelity that it will be launching a new company, Fidelity Digital Asset Services, which would offer a range of crypto products designed for large investors. And now, according to Bloomberg’s unnamed sources, Bitcoin storage will be the first such product available. The same sources added that Fidelity is expected to follow Bitcoin storage with Ether custody.
Having such a large financial services company as Fidelity offer safekeeping services would attract many Wall Street companies and professionals to the crypto industry. While the company didn’t address the rumors about the March launch date, it issued a statement on January 29 saying it was currently serving a “select set of eligible clients.”
“Over the next several months, we will thoughtfully engage with and prioritize prospective clients based on needs, jurisdiction and other factors,” Fidelity said in a statement.