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Fidelity Expands Cryptocurrency Custody Business, Wants to Take on Coinbase
Boston-based mutual fund Fidelity Investments is conducting "a full rollout" of its custody and trading services for digital assets, the Financial Times reports. Per the report, Fidelity CEO Abigail Johnson claims that cryptocurrencies are not going away, and people will preserve the value of this nascent market. “There are people out there with significant amounts of wealth in cryptocurrencies, probably bitcoin, and they’re looking for somebody to hold those coins for them because in the event of their passing — which is going to happen at some point or another — you’ve got to have a plan to be able to ... (full story)