Fidelity Investments’ Crypto Division Closes First European Deal
The cryptocurrency arm of the American asset management company Fidelity Investments has closed its first deal in Europe, Reuters reported this Tuesday. Fidelity Digital Assets will act as custodian of bitcoins held by London-based crypto investment firm Nickel Digital Asset Management.
Chris Tyrer, head of the European division of Fidelity Digital Assets, said that the complexities of attracting institutional investors to cryptocurrencies, including regulation, quality of services and high volatility, are gradually fading into the background..
“We see how these three factors are slowly eliminating themselves. As a result, the interest of institutional investors is growing, “he said, adding that balanced regulation of cryptocurrencies in the European Union will benefit service providers in this industry..
Tyrer also noted that the unit he leads is attracting interest from family wealth management firms, asset managers and some cryptocurrency companies. He refused to disclose information about the volume of assets under management and the number of clients.
The launch of the European division of Fidelity Digital Assets became known in mid-December. It is based in London and intends to serve local institutional clients. At the same time, it was reported that Fidelity Digital Assets Europe had not yet received any specialized permits to conduct its activities..
“Of course we will make sure that we are operating within the UK legal framework or any other required licenses, but at this time we understand that we do not need additional licensing to provide the relevant services in the UK,” said the COO of Fidelity Digital Assets. Michael O&’Reilly.
OKCoin becomes the first global cryptocurrency exchange to be licensed in Japan The OK Group cryptocurrency company opens a new trading platform in…
DeFi protocol YAM Finance passed the first successful rebalancing after the restart The project from the field of decentralized finance YAM Finance was successful…
The Swiss regulator for the first time issued a license to manage cryptocurrency assets to the Swiss Financial Market Supervision Authority (FINMA)…