Fidelity Digital Asset Services – One Small Step toward Cryptocurrency Mass Market Adoption

Colleagues, we at the Cryptocurrency Academy view Fidelity’s announced its new Digital Assets Services as one important, albeit fully anticipated, step toward mass-market adoption of cryptocurrencies. Unlike most other moves by leading financial institutions this announcement is noteworthy for two key reasons. First, DAS will provide custody and trading services for institutional investors trading millions+ of crypto market cap (in stark contrast to individual consumer traders). Second, we applaud the vision articulated by Fidelity’s Tom Jessup that DAS will grow into “a full-service enterprise-grade platform for digital assets”. We fully expect that the next 12-24 months will see similar announcements coming from BlackRock, Schwab, Templeton and BNP Paribas … just to name a few. We also foresee that the private sector firms will far outpace sovereign central bank adoption of digital assets … with the US Federal Reserve, ECB and PBoC topping the list. So what comes next in the global cryptosphere? Look for one or more global 100 firms such as Amazon, Facebook or AramCo to introduce their own “private labeled” cryptocurrencies. Post a comment today! Lawrence – Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com/)