Fidelity Investments has announced that it will be spreading its crypto services to the European market. According to the company, there is a lot of potential in Europe and a rising number of interested investors. It also plans that its European institutional investors will be serviced via its Fidelity Digital Assets Ltd registered in Europe.
Fidelity says that even though the regulation in Europe might be different, it will be in full compliance
“We recognize that the regulatory requirements for service providers in the digital assets space is evolving, and we intend to comply with all applicable requirements in the U.K, and elsewhere as we continue to globally expand our services to the institutional investment community.”
Reports currently have it that the new division has been fully incorporated in the U.K. but has no regulatory permissions so far. Furthermore, the U.K. division will be headed by Chris Tyrer who has significant experience as a Barclays Investment Bank managing director. Tyrer was in charge of crypto at the bank and was also the global head of commodities trading for Barclays.
Fidelity officially started its crypto services in the U.S. last year. Last month, it received full approval from the New York Department of Financial Services (NYDFS) to begin Bitcoin custody services.
Image Credits: Pixabay