Fidelity Digital Assets, the crypto arm of asset manager Fidelity, announced it’s started serving a select set of eligible clients as it continues to build out its products and establish institutional-grade technical and operational standards.
In the past few months, it’s been up and running for institutional clients like hedge funds and family offices, according to CNBC. The initial clients are part of final testing and process refinement periods, which will result in services rolled out to a broader set of eligible institutions.
“Our operations, risk, and compliance teams are actively working with auditors to refine our policies and procedures, adapt existing operational processes, and to set new benchmarks for this aspect of cryptographic and blockchain-based finance,” the firm said in a blog post.
Fidelity DA is offering bitcoin custody for crypto native firms, five to start with, top executive Tom Jessop told The Block in an interview at the Chamber of Digital Commerce’s DC Blockchain Summit in Washington, DC.