Specialists from the cryptocurrency department of a large American company Fidelity Investments, the main focus of which is asset management, talked about the first transaction formation in Europe.
The first European client of Fidelity Digital Assets was UK investment firm Nickel Digital Asset Management. The main focus of the latter is digital assets. The parties entered into an agreement under which the American company was appointed custodian of the available company bitcoins.
According to Chris Tyrer, the managing director of the European division in Fidelity Digital Assets, at the moment there is a decrease in the degree of problems associated with attracting institutional members on the market. The difficulties that, in the opinion of the specialist, can be overcome include the following:
the formation of the necessary regulatory support; low quality of services available on the market; High volatility of digital assets. “We are observing the elimination of these three factors. The outcome of the process is an increase in institutional interest” – said Chris Tyrer.
According to the expert, the current position of the European Union regulators regarding cryptocurrencies can be called balanced.
According to the Chris Tyrer, at the moment, various market participants show their interest in the European division of the company: money management firms, asset managers, as well as organizations working with digital assets. The exact amount of funds, which is at the moment under the control of the American company European division is unknown.
For the first time, information about the intention of Fidelity Digital Assets to serve European customers appeared in December 2019. The company office is located in London.