Fidelity Digital Assets Expands Crypto Custody Service to Asian Market

Fidelity Digital Asset Services (FDAS) has partnered with Stack Funds to enable Asian investors to easily purchase and securely store cryptocurrency assets. 

October 29, 2020 | AtoZ Markets – Fidelity Investments' Digital Asset Division has partnered with Singapore-based Stack Funds. The agreement implies the provision of custody services to clients of the last of the family offices and high net worth individuals, Bloomberg reports.

Stack Funds is committed to insuring clients' assets and conducting monthly audits.

Fidelity Digital Assets sees a big digital asset interest in Asia

Stack co-founder Michael Collett said the partnership with Fidelity will increase local investor confidence in cryptocurrencies.

“We are seeing a big uptick in digital asset interest from traditional investors across Asia,” Stack Funds co-founder and COO Matthew Dibb said.

We will remind, in August, the president of Fidelity Investments corporation Peter Jabber submitted documents to the US Securities and Exchange Commission (SEC) for registration of a new investment bitcoin fund.

Related: Fidelity Digital Assets to Support Ethereum in 2020

In June, Fidelity reported that one in three of 774 large clients surveyed in the US and Europe have already added digital assets to their portfolio.

Fidelity considers Bitcoin to be an "inspirational store of value" and an "insurance policy" against problems in the traditional financial system.

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