One of the biggest asset managers in the world, Fidelity Investments, has placed a significant wager on Bitcoin and cryptocurrencies by creating Fidelity Crypto, a specialized investing platform focused on cryptocurrencies.
Fidelity Digital Assets, the company's specialist division for managing digital assets, will lead the development of the new platform.
The decision by Fidelity Investments, according to Peter Brandt, a seasoned analyst who brought attention to this, signifies a key turning point in the acceptance of cryptocurrencies by the general public.
Fidelity Digital Assets, a platform that offers market-leading solutions for the trading and security of digital assets, is the provider of the new crypto platform.
Using the platform, users will be able to trade and safeguard Bitcoin and Ethereum for as little as $1 with the institution-level security and services that Fidelity Digital Assets has offered since 2018.
Also, the portal will expose investors to cryptocurrencies, allowing them to trade in their favourite digital assets. Upon debut, the new platform will initially exclusively handle Bitcoin (BTC) and Ethereum (ETH). But, the site is examining new cryptocurrencies to broaden trading prospects over time.
When it first launches, Fidelity Crypto will be incorporated into the company's award-winning mobile app, allowing customers to manage all of their conventional and cryptocurrency investments in an one location.
Only people of the United States living in 36 states, including New York, Alabama, and Washington, will have access to the site.