Bakkt and Fidelity are on schedule and will start custody trading in March 2019. SBI VC also will start trading in March. This means crypto will see a huge bull run. Fidelity is a $ 7.3 trillion market!!! Huge news.
Read this news:
Fidelity Is Said to Plan March Launch of Bitcoin Custody Service
Fidelity Investments is targeting a March launch date for its Bitcoin custody service, according to three people with knowledge of the matter, as the mutual-fund giant moves forward with a plan that could help ease fears of trading cryptocurrencies.
In October, the Boston-based firm announced it would offer a range of crypto products designed for large investors like hedge funds. Bitcoin storage will be the first one available, according to employees of three firms that spoke with Fidelity in the past several weeks and asked not to be named discussing plans that are still private. Ether custody is expected to be next, they said.
“We are currently serving a select set of eligible clients as we continue to build our initial solutions,” the company said in a statement Tuesday. “Over the next several months, we will thoughtfully engage with and prioritize prospective clients based on needs, jurisdiction and other factors.”
Custody, a commonplace practice in conventional financial markets like stocks, involves a third party holding onto securities to reduce the risk they’ll be lost or stolen. But while a number of startups have sought to offer the safekeeping service, many Wall Street professionals have longed to work with a large financial services firm, a role Fidelity may fill. Others including Bank of New York Mellon Corp., JPMorgan Chase & Co. and Northern Trust Corp. have explored entering the field. Meanwhile, digital coins are constantly stolen, underscoring the need for better safeguards.