One of the digital asset divisions of Fidelity has expanded and opened a representative office in the UK capital. This means the company is going to do business in Europe.
Fidelity Investments passed the official registration process in London on Monday, December 16th. Most likely, this unit will work with local institutional clients first. Note, the organization did not receive separate permits from British regulators and its management finds it unnecessary.
“Obviously we’ll make sure that we’re compliant with any UK or any other licenses that are required, but at this point, our understanding is that we do not require any additional licensing to do this in the UK.” – Michael O’Reilly, chief operating officer of Fidelity Digital Assets told.
To date, the company’s British customers can work with the first cryptocurrency only, but this list should expand next year. Fidelity Investments specialists have been working hard to add support for Ethereum and other assets in the near future.
This division is part of the huge US financial holding company Fidelity, which manages 7 trillion US dollars capital.