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fidelity partners with stack funds with an aim to expose crypto assets to asia’s wealthy investors
fidelity digital assets services tries to hit high-net asian investors after making a partnership with stack funds, an investment platform for digital assets.
according to the partnership between both recognized investment firms, singapore-based stack funds will expand the cryptocurrency custody services of fidelity to the big investors based in asia.
the demand for digital assets from asia
as reported by bloomberg, stack funds claim there is a rising demand for digital investments on the part of asia-based family offices and hnis. the latest initiate with the aid of fidelity is launched to satisfy the needs of investors who are interested to invest in crypto assets.
michael collett, co-founder of stack funds, high-net individuals will be inspired due to high-level security provided by fidelity and financial controls. the company will offer protections such as regular insurance coverage, monthly audits, and weekly redemptions.
fidelity is diving into the crypto industry on a large scale and the latest partnership is an example. in august, the investment firm rolled out a crypto fund facility for investment advisors, family offices, and other institutions that have at least $100,000. according to christopher tyrer, the head for europe at fidelity digital assets says there is a strong need for “platforms which have a deep understanding of what local and regional investors are looking for.” bitcoin has taken ten years to reach this stage due to a lack of wealthy people in the cryptocurrency space.
according to stack funds, fidelity’s reputation “in traditional markets is a welcomed addition to our current and upcoming suite of products for institutional investors.”
bitcoin’s price shattered in mid-march when it went as low as $3,800 after coronavirus declared as a pandemic by the world health organization. since then, it continued to show new bullish rallies. in the latest rally, the world’s top cryptocurrency witnessed the highest position of the year. according to bitcoin experts, it would break the record of the 2017 bull run.
at the beginning of october, michael saylor, ceo of prominent investment firm microstrategy, unveiled that the company purchased bitcoin worth $425 million.
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There are 77 "l"s.
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