We may be in a bear market at the beginning of the year but that doesn’t mean that better times aren’t just around the corner with Fidelity Investments getting ready to launch their Bitcoin custody service in the first quarter of 2019.
And this is quite a great piece of news for the cryptocurrency world as the mutual-fund giant is set to attract institutional investors and major players into the crypto investment world, especially when we consider what they are actually bringing to the table: regulation and security for major investors.
Fidelity is a financial products company with $7.2 trillion worth of assets from more than 25 clients which announced back in October 2018 their entrance into the crypto industry in order to attract and retain the increasing institutional demand for digital assets. To achieve this purpose, a new company was created to manage the crypto resources under the name of Fidelity Digital Assets.
As Fidelity is well acquainted to the investment space and they have the required tools and know-how, not to mention the connections in the industry, the company recognizes the issues institutional investors face when they look to enlarge and diversify their portfolios into digital assets.
Fidelity Digital Assets has been built accordingly to respond to the latest needs in the market for an enterprise-grade platform that can deliver reliable and secure trading and storing of digital assets.
As major investors are looking to invest funds into companies that can provide security and comply with regulations, Fidelity is ready to offer cold storage custody solutions making sure investors’ money are kept safe from online dangers.
Does this mean we should get ready for mainstream adoption?
It is more than obvious that after a long bear market in 2018 the industry is quite thrilled to receive the news.
For the last ten years the cryptos were part of a niche range and appealed to tech enthusiasts and to a developers community that were driven more by the idea of keeping finances away from government control while exploring a strange new world of wonders brought by the blockchain technology.
Starting with 2017 and going strong into 2018 and 2019, the crypto space has opened up to the mainstream public that started to become increasingly knowledgeable about the new buzz words and wants now to know more. Institutional investors will take the game at a whole new level bringing large funds into the industry and building trust for people that awaited higher security and better regulation.