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Fidelity Wins Trading License in New York, Hurray to Bitcoin

Boston-based Fidelity today announced that it has received permission from the New York State Department of Financial Services (NYDFS) to offer bitcoin trading and storage services. The move allows the giant to create and launch a digital currency platform that would specifically cater to institutional investors. They, as NYDFS noted, would be able to purchase, sell, store, and transfer bitcoin on Fidelity Digital Assets.


Chief Operating Officer Michael O’Reilly reiterated a similar sentiment in his press statement, stating that NYDFS’ approval could help make big investors more comfortable while investing in bitcoin. Excerpts:


The custody and trade execution services that we provide are essential building blocks for institutional investors’ continued adoption of digital assets. The designation as a New York trust company under the supervision and examination of the DFS builds on the credibility and trust we’re establishing among institutions and other market participants. Read More...

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