Fidelity announces update on their crypto platform, says in "final testing"

01 Feb, 2019
by David Borman
Update
Fidelity announces update on their crypto platform, says in final testing

Fidelity released an update today on the state of affairs with their upcoming crypto exchange/custodial platform. Chepicap recently reported that sources near the company were claiming a March launch was in the works, and while this update neither confirms nor denies a date, it does sound like the company is on track to launch soon, citing the "final testing" going on now.

The Medium post, titled "An Update on Our Work," reveals that a select set of clients are currently using the platform as a means of testing to ensure that it is ready for a wider release. To quote the update:

"Our initial clients are an important part of our final testing and process refinement periods, which will eventually enable us to provide these services to a broader set of eligible institutions."

The statement goes on to say that Fidelity has been in discussions with many institutions and that the demand is there for cryptocurrency, so long as there is a platform that can be trusted to be fast, secure and reliable. This is what Fidelity hopes it can offer investors.

Read more: CBOE refiles the VanEck/SolidX Bitcoin ETF proposal to SEC

As we head into 2019 and the hopes of a Bitcoin ETF and Bakkt are still high on a lot of investors wish lists, Fidelity may be one more pillar that could turn 2019 into the year of institutional investment. Will it pan out? Stick right here with Chepicap for all institutional coverage!

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Read more about: Bitcoin (BTC) Bakkt

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