Fidelity Runs Final Tests of a Crypto Trading Platform for Institutional Investors
Fidelity is conducting a final test of a new cryptocurrency platform for institutional investors. Some customers are involved in testing.
For the first time, the company announced the launch of the Fidelity Digital Asset Service platform in October 2018. According to the plan, the platform should provide institutional investors with crypto trading and cryptocurrency storage services.
According to Fidelity’s blog, the platform undergoing the final test. "We work with auditors to polish existing rules and procedures."
The companies are also assisted by “selected customers” who already receive some services on the platform.
Moreover, Fidelity claims to be in talks with many institutions. And they said they are interested in crypto assets. But to enter this market, institutions require a platform that can be trusted. Fidelity is going to develop a similar service.
The company has not announced when it will release a final version of the Fidelity Digital Asset Service. But it said that in the coming months' company would be negotiating with potential clients.
- According to Bloomberg, Fidelity is set to launch the platform in March of this year. The company itself had previously stated this would happen in the first quarter of 2019.