Fidelity Investments Rolls Out Crypto Custody Service

American financial services company Fidelity Investments has fully launched its cryptocurrency custody service. Abigail Johnson, CEO of Fidelity Investments, revealed the development in an interview with the Financial Times. Johnson said that the company is ready to roll out its crypto custody business following a year-long preparation and accumulation of clients. Last fall, Fidelity specifically indicated that it would provide an enterprise-grade crypto custody service to hedge funds, family offices, and financial advisors. Johnson called that kind of service nascent and not developed, but noted its potential, saying: “There are people out there with significant amounts of wealth in cryptocurrencies, probably Bitcoin, and they’re looking for somebody to hold those coins for them because in the event of their passing — which is going to happen at some point or another — you’ve got to have a plan to be able to get those coins to somebody else.”