Fidelity Launches Crypto Custody

Fidelity, a large and trusted institution that handles many retirement funds worth $7.2 trillion has opened itself up as a cryptocurrency custodian. This could be big for crypto as it brings more legitimacy into the crypto space that such a large and trusted player would throw their hat into the ring and offer services. This also opens the door up to the trillions of dollars in retirement and pension funds that might now be invested into the cryptocurrency market. Such a well-trusted brand and name offering these services may convince some people who have been sitting on the sidelines for a long time to finally jump into the market with fresh money and give the crypto market the boost it needs.