Fidelity Digital Asset Platform Now Live With Select Eligible Clients

The digital currency wing of the U.S.-based financial services giant Fidelity called Fidelity Digital Assets is now officially live. According to the firm, the platform is only available (for now) to a group of select clients.

Platform Officially Goes Live

The announcement was made by the company on Twitter, confirming the launching of the aforementioned platform. The firm said clarified the platform is live but only to a select group of eligible clients. From there, it is expected to be rolled out slowly.

Fidelity explained on its tweet that its solutions are specifically designed for the needs of family offices, endowments, and hedge funds. They are even intended for the likes of pensions and other institutional investors.

In a previous announcement, the financial services giant said that the platform had reached its final testing phase. During that time (at the end of January this year), the company was referring to its highly anticipated digital asset service.

Fidelity Digital Asset Platform Timeline

It is worth noting, however, that the platform was first announced back in October of last year. Since then, Fidelity has been vocal in releasing updates about the development of its platform. According to the company, it was designed with the idea of meeting all institutional trading and custody standards, as well as all regulatory requirements.

Also in January, a handful of anonymous sources suggested that the company was eyeing the possibility of launching its Bitcoin (BTC) custody offering come March this year. In an interview, the head of Fidelity Digital Assets named Tom Jessop confirmed that the company is officially live.

But despite the launch, Jessop clarified that the company is still heavily working on multiple parts of the above-mentioned platform. He added that a good number of users have already been utilizing the platform since January. But as far as other users are concerned, it is likely for them to wait until September in order to gain access to the platform.

Clarifying False Reports

Jessop said that they wanted to bring all users to the Fidelity Digital Asset platform. However, the decision to do so largely depends on the circumstances and facts of each client.

The executive even clarified that the bear market from last year did not necessarily affect the company’s development. He, however, stated that if one has to launch a crypto fund right at the height of the market, he is expected to be hurting by now.