Fidelity will open its crypto exchange before the end of the year

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Fidelity will open its crypto exchange before the end of the year

The cryptocurrency division of the holding company Fidelity Investments announced plans to launch its own exchange by the end of this year.

Currently, Fidelity Digital Assets (FDAS) is a brokerage firm offering large investors to do OTC Bitcoin transactions. Despite having its own platform, digital assets were bought and sold from various third-party sources..

Fidelity will open its crypto exchange before the end of the year

However, the head of FDAS Tom Jessop said that the company intends to open an exchange, possibly before the end of the year. This will expand your market presence to retail investors and increase the liquidity of small transactions..

Fidelity Digital Assets is one of the few divisions of large American companies that are looking to popularize crypto assets among institutional investors. The Bakkt trading platform launched by Intercontinental Exchange also works in this direction..

While FDAS has not disclosed its client base, it claims to partner with hedge funds, investment companies, family offices and one private pension fund. The management also says that some more investors plan to enter the market in the first quarter of 2020. In fact, on the eve of Bitcoin halving.

As a reminder, Bakkt recently reported on the development of a consumer application for paying for everyday goods with cryptocurrency.

text: Ivan Malichenko, photo: usnews

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