Fidelity Digital Assets to provide custody for London-based Nickel Digital Asset Management




  • In Business
  • 2020-01-14 18:35:04Z
  • By The Block
 

Fidelity Digital Assets will soon provide custody services for bitcoin held by London-based crypto investment firm Nickel Digital Asset Management.

Founded in 2018 as the digital currency arm of Fidelity Investment, the $7.8 trillion investment management giant, Fidelity Digital Assets formed a U.K branch in Dec. 2019 to expand its custody and trade execution services to Europe.

Nickel would be Fidelity Digital Assets' first European partner fund, according to a press statement, as the latter is set to help Nickel secure digital assets using long-term cold storage.

"Having just entered the European market at the end of last year, we'll continue to meet with investors who are currently investing in or planning to invest in digital assets," Fidelity Digital Assets' Europe head, Chris Tyler, told The Block. "Our focus will be on developing our European client base and delivering operational and service excellence."

Tyler is optimistic about the prospect of increasing institutional interests in the new year.

"Since we entered this market, we've already seen a maturation of interest, which has progressed from the early adopters to more mainstream interests from the likes of family offices and endowments, for example," he said.

Meanwhile, the company is building trading tools targeted at institutional clients and considering adding ethereum to its platform, President of Fidelity Digital Assets, Tom Jessop, told The Block last month in an episode of The Scoop.

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