Since their first announcement of the Fidelity Digital Assets launch in October 2018, Fidelity has continued to develop their operational and technical capabilities necessary for supporting, securing, and trading digital assets with the meticulous oversight stipulated by institutional investors.
At the moment, they are serving an exclusive number of eligible customers as they continue to build their original solutions. As noted earlier, Fidelity Investments is working on its Bitcoin custody service’s launch date expected to take place in March. Their robust sets of technical and operational standards are set at high levels that make all their products trustworthy among their loyal clients.
Testing Phase
The initially selected clients are an integral part of the company’s final testing and process refinement periods. The tests will finally enable Fidelity to offer the services to a larger set of eligible institutions. It has been a difficult yet rewarding experience for the company. Critical decisions on product direction have been made involving intensive work from the development teams.
The Fidelity operations, risk, and compliance teams are working hand-in-hand with auditors to refine policies and procedures were necessary to accommodate the existing operational processes. Also, they are striving to set new benchmarks for this aspect of cryptographic and blockchain-based finance. Fidelity will thoughtfully interact with and prioritize potential customers in the coming few months based on jurisdiction and needs among other factors.
The company’s interaction with various institutions has served to highlight their clear requirement for a trusted platform provider to engage with digital assets extensively and safely. They are committed to deliver and exceed the needs and standards of the existing solutions in the market with both their trading venue and custody platform.
Therefore, they will eventually offer a combination of security and centralized market access, in turn, disrupting the complex nature of trading digital assets today. At Fidelity Digital Assets, they realize that Bitcoin was never the first form of digital cash. However, they acknowledge the transformative potential that it has created.
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