Fidelity Clearing Canada, a subsidiary of mutual fund giant Fidelity Investments, has received regulatory approval to launch the first crypto-asset trading and custody solution for institutional companies, The Globe and Mail reported.
Various institutions such as investment and pension funds will now have the opportunity to invest in digital assets quite easily.
Fidelity has also prepared paperwork to launch two Bitcoin funds in Canada. As it will be remembered, the fund, traded on the world’s first Bitcoin exchange, was approved by the Ontario Securities Commission in February.
Fidelity is known as one of the first big companies to step into the crypto industry. The company established a crypto-focused subsidiary in 2018. Abigail Johnson, the company’s CEO, introduced a crypto custody solution in 2019 that she highlighted as “incredibly successful.”
The company has $4.2 trillion in assets under management.