The firm, which is known for its retail and institutional brokerage businesses in equities, announced a new business for crypto last year, Fidelity Digital Assets. The business will help Wall Street clients trade in the market and store crypto. As per the Bloomberg report, the firm is starting with bitcoin storage.
“We are currently serving a select set of eligible clients as we continue to build our initial solutions,” Fidelity said to Bloomberg in a statement on Tuesday. “Over the next several months, we will thoughtfully engage with and prioritize prospective clients based on needs, jurisdiction and other factors.
Today the always-on demands of online markets have to be matched with the ability to access opportunities instantly and with no limits. Historically correspondent banks would move large sums of money for those needing to transfer funds while creating bottlenecks of unnecessary friction.
Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.
In this episode of The Scoop, StarkWare Co-Founders Uri Kolodny and Eli Ben-Sasson walk through StarkWare's recent fundraise and discuss how their firm is bringing affordable blockchain transactions to the masses.