Fidelity Digital Assets about increased interest of investors in crypto currencies

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Fidelity Digital Assets (FDAS) attracts more than 20 developers to expand cryptographic services due to the increased interest of institutional investors.

Fidelity Digital Assets technical director Peter Farland said that the company has been providing bitcoin storage services for hedge funds and other organizations since 2018. However, given the economic situation this year, there is a growing demand among financial institutions for cryptographic trading services as well as custodial services.

FDAS needs additional resources to meet customer needs. In the coming months, the firm plans to attract more than 20 technical specialists in the field of cryptovoltaics and the latest technologies to expand its activities in this area.

Fidelity Digital Assets intends to create new secure and scalable products

That will make it easier for institutions to invest in bitcoin, air and other crypto assets. The initiative is aimed at universal introduction of cryptovoltaics in different spheres of activity. It is quite possible that a subdivision of Fidelity Investments will also be able to provide services to traditional banking organizations.

Institutional investors’ interest in cryptocurrencies was boosted, among other things, by explanations published by the Office of the U.S. Treasury’s Office of the Comptroller (OCC) for U.S. banks. According to the OCC, they are allowed to hold funds to provide 1:1 ratio of stablecoin linked to one currency.

Earlier Fidelity Digital Assets analysts said that bitcoin has the basic characteristics of a means of saving and can become an insurance against the problems of the existing financial system.

Fidelity Digital Assets reported on increased interest of institutions in cryptov currencies
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