By CCN Markets: In the wake of high-profile hacks such as the $ 44 million recently removed from Binance’s coffers, BitGo CEO Mike Belshe spoke at Coindesk’s Consensus 2019 on matters including security and how this is hindering the will of institutions to involve themselves in Bitcoin and other digital assets. He told an audience at the event that “we are bringing to market a risk-less, efficient and compliant digital asset clearing and settlement” in a move that sees the security and custody solutions company stake a claim for institutional investors by moving crypto transfers off-chain. If a custodian settles
San Francisco-based cryptocurrency giant Coinbase reportedly now supports more than 30 cryptocurrencies on its digital asset custody platform, Coinbase Custody. Now more than 30 crypto assets available on Coinbase Custody 🙌https://t.co/oiKktOmsKA — Brian Armstrong (@brian_armstrong) May 6, 2019 According to a recent announcement, Coinbase has been using a combination of client demand and its own internal […]
Within the sphere of traditional finance, at least, crypto has a custody problem. The problem? Crypto is complicated, security is tricky and — if we’re being frank — the suits don’t know a bit from a byte (or a blockchain from a cloud server).
In fact, you could rightly say that what makes crypto, well, crypto actually makes them nervous. Unlike settling traditional assets, you can’t reverse a bitcoin transaction, the blockchain offers no internal or centralized controls and there’s no one to go to if you muck up a transaction. Bitcoin is everything that the traditional finance sector is not, so it’s understandable that Wall Street and friends would be wary of holding an asset they don’t understand and can’t control.
Earlier this month, it was reported that Coinbase hired Luke Youngblood, formerly a principal solutions architect at AWS, to head up the development of the new staking and governance products. Now, it looks as if one of the first major moves under Youngblood’s leadership may be the addition of cold-storage staking for Tezos (XTZ) and likely […]
Hardware wallet maker Ledger and Hong Kong-licensed Legacy Trust now provide custody for crypto assets including ethereum-based tokens.
Financial services giant Fidelity Investments, which manages more than $ 2.6 trillion in client assets, has started rolling out its Bitcoin (BTC) custody service, allowing institutional clients to securely store the leading digital asset. We are live with a select group of eligible clients and will continue rolling out slowly. Our solutions are focused on the needs […]
LGO Markets, a new crypto exchange for institutional investors with an unusual approach to custody, will launch spot trading on March 11.
The post TokenSoft launches digital securities custody solution beta appeared first on CoinReport.
Much excitement has been building since the large American financial services firm Fidelity Investments first announced back in October that they were building a cryptocurrency trading and custody platform. They are now almost ready to launch their Fidelity Digital Assets Exchange. Fidelity Investments is an investment management company that was established back in 1945 as a mutual fund company. Over the years, they have become synonymous with providing a vast plethora of financial services in regards to wealth management and fund distribution, alongside offering solid investment advice. They are now getting closer to diversifying into the digital assets industry. Fidelity Digital
Fidelity Investments, one of the world’s largest asset managers, is breaking into bitcoin custody.
According to a recent report from Bloomberg, three people “with knowledge on the matter” from firms in contact with Fidelity have said that the company is tentatively planning to launch a custody service for bitcoin in March.
This move would fall in line with the company’s recent pushes toward the crypto space. Last October, Fidelity announced the creation of a platform for institutional traders to invest in cryptocurrencies, using over-the-counter trading and cold storage to ensure the security of the various assets.
The bitcoin price on Wednesday recovered as much as 2.45 percent after reports indicated that Fidelity would launch its crypto custody service as soon as March. Fidelity Crypto Launch Brings out the Bulls At 18:00 UTC, the bitcoin-US dollar exchange rate (BTC/USD) was trading at $ 3,443 on crypto exchange Coinbase, down 0.6 percent from its intraday high at $ 3,459. Earlier today, the market had opened at a lower rate at $ 3,337 during the Asian session, while trending lower inside a descending channel formation. The positive sentiment kicked in after Fidelity Investments, a renowned capital management firm, announced that it would launch
In today’s edition of The Daily we feature a number of stories about financial companies adding cryptocurrency-related services including a custody solution from Fidelity and new CFDs for trading BCH vs precious metals. We also cover the latest update about the ongoing Cryptopia hack.
Big news today from Bloomberg‘s Matthew Leising and Alastair Marsh: “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.” “We are currently serving a select set of eligible clients as we continue to build our initial solutions,” the company said in a statement. Over the next several months, we will thoroughly engage with and prioritize prospective clients based on needs, jurisdiction and other factors. A source familiar with the new
Financial services giant Fidelity Investments, which manages more than $ 2.6 trillion in client assets, is reportedly targeting a March launch date for its Bitcoin (BTC) custody service. According to a recent report by Bloomberg, which cites three individuals familiar with the matter, Bitcoin custody will be the first of many crypto products made available for large investors like […]
Gong-pil Choi, the director of the Korea Institute of Finance, said that custody in crypto is crucial in eliminating hacking fears and facilitating the growth of the market. The Korea Institute of Finance, an agency that works with the government to research and evaluate financial policies to bolster the country’s financial sector, has emphasized that
The post Korea Institute of Finance Director: Crypto Custody is Key in Rapid Growth appeared first on CCN
Venture firm Two Sigma and Ethereum development studio ConSensys have invested $ 8 million into digital asset custody solution provider Trustology, Business Insider reports. Both investors would be joining Trustology’s board of directors. London based Trustology, known for developing the TrustVault, a crypto management service that safeguards private keys by keeping them in “tamper proof, programmable
The post Crypto Custody Startup Raises $ 8 Million from ConsenSys & Two Sigma Ventures appeared first on CCN
BitGo has a new CEO for its custody business.
The cryptocurrency solution provider has recruited Richard Corcoran as its new chief executive officer. Having retired some years back after over 30 years in the traditional banking and finance industry, Corcoran has come out of retirement to lead the BitGo Trust Company, BitGo’s crypto custody arm.
BitGo received approval from the South Dakota Division of Banking in September 2018, empowering it to act as a qualified custodian of digital assets for its institutional investors. At the time it was launched, BitGo Chief Compliance Officer Shahla Ali said that BitGo’s custody would deliver “modern security for modern assets.”
Ex-Banker Dick Corcoran will oversee billions of dollars in value as CEO of the recently formed BitGo Trust Company.
The world’s fourth-largest asset manager, Fidelity, is exploring the possibility of expanding its custodian services beyond Bitcoin to other assets in the crypto market. Tom Jessop, the head of Fidelity Digital Assets, a cryptocurrency custodial service provider operated by Fidelity, said that the organization is evaluating the demand for the top five cryptocurrencies in the market
The post Beyond Bitcoin: Fidelity May Expand Crypto Custody to More Assets appeared first on CCN
Tom Jessop, President of Fidelity Digital Asset Services says that the asset manager will take crypto to the next level by enhancing the sector and providing a secure Bitcoin custody solution so institutional investors can get a piece of the crypto pie.
Bitcoin Custody Solution Will Remove Barrier
In the most recent episode of her Unconfirmed podcast, Laura Shin interviewed Fidelity president of Digital Asset Services Tom Jessop. The two had a cryptocurrency and blockchain focused discussion about the company’s plans to help develop the Bitcoin 00 and cryptocurrency market to a higher level of functionality and value.