An ongoing cryptocurrency bear market is not dampening interest for Fidelity's new institutional cryptocurrency products.
Bitcoin, along with thousands of other digital coins, sparked a buying frenzy among retail investors in late 2017. The world's largest cryptocurrency has dropped more than 80 percent since its high of almost $20,000 at the end of 2017 and was trading near $3,789 on Friday. Jessop said while the company is live, certain aspects are still a work in progress. Fidelity is expanding the jurisdictional coverage of where it can do business. And its offerings are not one-size-fits-all. Some customers were using the platform in January, while for other customers, it was March. Others may wait until September, he said.Fidelity, a roughly 72-year-old family-controlled firm, is known for managing retirement plans and mutual funds. But it also spends $2.
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