Fidelity Digital Assets, one of the leading financial companies, is ready to expand. The European market is its point of interest.
Based on reports, Fidelity Digital Assets plans to set up a whole new entity that provides services to European clients. Importantly, the new business reportedly plans to offer institutional clients services such as trade execution and custody services. Accordingly, the new arm plans to launch Europe based hedge funds, market intermediaries and more.
Besides, the asset management giant appointed Chris Tyrer as the head of the FDAS Europe section. A former managing director at Barclays Investment Bank, Tyrer has led projects pertaining to digital assets.
Investors demand Europe expansion
President of Fidelity Digital Assets, Tom Jessop revealed that since the company tasted huge success in the US market, it decided to enter the European market as well.
He also mentioned that the interest displayed by the institutional community in the company’s products and services helped in fast-tracking the project.
Quoting him: “Since launching Fidelity Digital Assets in the U.S. over a year ago, we’ve seen significant interest and engagement by the institutional community. There are no signs of slowing down. We’re also encouraged by continued corporate and venture investment in market infrastructure companies. As well as, the entry of traditional exchanges into the digital assets ecosystem.”
Jessop added that the firm helped traditional exchanges make the transition toward digital assets. Also, he believes that the interest shown by prospective clients from the European Union and the U.K. helps create a strong foundation for the company.
Interesting plans for Europe
Fidelity Digital Assets Europe arm plans to provide a myriad of services to its European clients. Such as foundational solutions that act as building blocks for financial institutions. The key services entail custody service, providing institutions secured and compliant storage solutions. Also, it aims to offer vaulted cold storage, cyber controls, and multi-level physical storage solutions. As well as trade execution services that help clients carry out high-speed trades on a liquidity-rich platform.