Fidelity Digital Assets granted official status for crypto asset activities by FCA
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Fidelity Digital Assets granted official status for crypto asset activities by FCA 08 December 2021United Kingdom Reporter: Jenna Lomax
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Fidelity Digital Assets has been granted official registration status for cryptoasset activities by the UK Financial Conduct Authority (FCA).
Previously listed as a temporary member on the FCA鈥檚 registration list, Fidelity Digital Assets has been moved to the permanent register, allowing the provider to continue to conduct business in the UK, while meeting the increasing demands of clients in the region seeking access to digital assets.
The FCA official registration status will apply to Fidelity Digital Assets鈥� digital asset custody and trade execution business.
Fidelity Digital Assets is a business owned by Fidelity Investments and offers institutional investors a full-service platform for securing, trading and supporting digital assets.
Chris Tyrer, head of Fidelity Digital Assets, Europe, says: 鈥淲e view this milestone as validation of the operational excellence of our platform and services.
He adds: 鈥淲e look forward to continuing to help new and existing clients invest in, store and manage digital assets confidently with our enterprise-grade security.鈥�
The news comes as Nexo, the London-based regulated institution for digital assets, has collaborated with Fidelity Digital Assets to enhance its portfolio of assets under management.
The partnership will see Fidelity Digital Assets provide Nexo with an additional custody layer to its security infrastructure.
The partnership gives institutional investors who currently hold their digital assets in custody with Fidelity Digital Assets access to Nexo鈥檚 products and crypto prime brokerage.
As a result, institutional clients will have access to tri-party structures that combine Nexo鈥檚 lending solutions with Fidelity Digital Assets鈥� asset protection.
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