Financial services provider Fidelity Investments is launching a cryptocurrency trading and storage platform.
Fidelity Digital Asset Services, LLC will provide cryptocurrency custody and trading services for enterprise clients, the company announced Monday.
Tom Jessup, who is heading up the new division, announced the platform at Bloomberg’s Institutional Crypto event. It hopes to draw institutional investors, including hedge funds, family offices and market intermediaries.
Fidelity is one of the five largest financial services providers in the world, maintaining some $7.2 trillion in client assets.