Fidelity Will Be Canada’s First-Ever Bitcoin Custodian

Fidelity Will Be Canada’s First-Ever Bitcoin Custodian

Fidelity has secured Canada’s selection from regulators to become the country’s first-ever bitcoin custodian. The move will allow the financial services firm to operate bitcoin custody and trading in the country, geared towards institutional investors. Additionally, the move will likely open the door for more Canadian institutions to invest in crypto.

First-Mover Fidelity

Fidelity Clearing Canada (FCC) unveiled a press release on Wednesday showcasing the announcement. The release quickly notes that FCC is “Canada’s first Investment Industry Regulatory Organization of Canada (IIROC) regulated entity to offer this digital currency trading and custody solution dedicated for institutional investors, including mutual funds and exchange-traded funds.”

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FCC President Scott Mackenzie stated in the release that “the demand for investing in digital assets is growing considerably and institutional investors

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