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Home Crypto News Market Fidelity Receives Canada's Digital Asset Custody License To Handle Bitcoin For Institutional...

Fidelity Receives Canada’s Digital Asset Custody License To Handle Bitcoin For Institutional Investors

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Fidelity Investments has received approval from the Canadian regulator to launch a custodian service for cryptocurrencies.



Fidelity Clearing Canada became the premier Canadian company that received cryptocurrency custody approval from the Investment Industry Regulatory Organization of Canada (IIROC). Fidelity serves over 100 investment companies in Canada with total funds under management exceeding $222 billion.

“The demand for digital assets is constantly growing and institutional investors are looking for a regulated platform to gain access to this asset class,” said Scott Mackenzie, President of Fidelity Clearing Canada.

Fidelity Clearing Canada has also applied to launch a Bitcoin exchange-traded fund (ETF). There are already several Bitcoin ETFs operating in Canada, with most of these funds using the services of American companies to hold assets.

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The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

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