The Canadian branch of the investment corporation Fidelity Investments has received a positive response from the local regulator to the process of launching a custodial service for cryptocurrencies.
The first Canadian company that received a positive response from the Investment Industry Regulatory Organization of Canada became – Fidelity Cleaning Canada. It is authorized to hold digital currencies. More than 100 investment companies are served by Fidelity.
“The demand for investing in digital assets is constantly growing and institutional investors are looking for a regulated platform to gain access to this asset class,” stated the head of Fidelity Clearing Canada.
Fidelity Clearing Canada is in the process of launching a bitcoin exchange-traded fund. U.S. companies provide services for most exchange-traded funds, for custody of assets. A licensed custodial service is now available in Canada.
“Trillions of dollars will flow into such funds once ETFs with direct investments in cryptocurrency are launched,” Michael Saylor (CEO of MicroStrategy) said in a statement
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