Fidelity Investments` cryptocurrency office Fidelity Digital Assets enters the Great Britain – investment platform has learned.
“We are going to provide our services to European institutional investors through our signed up in the UK company Fidelity Digital Assets, Ltd”, – the representative of Fidelity Digital Assets said and added: “We recognize that regulatory requirements for suppliers of services in digital assets field are developing, and we intend to follow all the demands applicable in Britain and other countries, because we continue to globally expand our services for the institutional investment society”.
The move into the United Kingdom will provide European businesses, such as hedge funds, with an opportunity to get access to Fidelity crypto assets. However, Fidelity company does this leap without any additional regulating license, because they don`t need extra permissions.
Initially, Fidelity opened its digital assets servicing office in the USA in 2018. The company provided storage of crypto assets and trade execution to institutional players such as hedge funds third party intermediaries.
The Boston-based digital asset service provider also received the permission for operation in New York from the New York State Department of Financial Services (NYDFS) in November 2019.
British office of Fidelity is Bitcoin focused
Though, this new Europe entering doesn`t demand any additional regulating licenses – known for Fidelity, at least.
“Surely, we will care to correspond any British or other necessary license. But at the current moment we are not required to get additional licenses for operating in the UK”, – CEO of Fidelity Digital Assets Michael O’Reilly said.
After the launch of British office, Fidelity will begin its work offering services related to Bitcoin (BTC) only.
“Today our focus is on Bitcoin, largely driven by what our customers` needs are”, – Fidelity informed. Although, the company may add other assets in 2020.