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.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related

Currently, there are Rare Chances of Bullish Run for both Bitcoin and Ethereum

There have been surprisingly enough data put forth by crypto enthusiasts, predictions, and wishful odds, all pointing towards a possible bullish run for both Bitcoin and Ethereum. While there was no mention of when it might happen for the crypto market, the urgency of these odds playing out could be felt from the statement, but […]

MicroStrategy now has more than 105k Bitcoins after Purchasing another 13005 Bitcoins

Despite the fact that cryptocurrency and the idea of acquiring it, especially Bitcoin, are being shunned over in various capital-driven regions such as China, the adoption rate for the cryptocurrency has also been pretty great. El Salvador has become the first-ever country to introduce Bitcoin into its currency and financial streams as there also have […]

Crypto Investors can Take Part in the Upcoming Auction for Rare Diamond by Sotheby

Sotheby is the largest fine arts and decorative collectibles brokers in the world. The company has about 80 offices in 40 different countries. The biggest Sotheby offices are present in the United Kingdom as it was founded by Britain natives. However, at present, the main headquarters of the auction house is situated in the United […]

Another Small Country of America has Made Plans to Make Bitcoin a Legal Tender

El Salvador’s big crypto revolution has to turn into an epidemic. Many other countries in the region are following suit left and right. Bitcoin has become a more popular mode of trading in comparison to fiat. In the same vein, Paraguayan- a South American nation, has come forward to ensure that they are in the […]