Wall Street financial giant Fidelity is opening the doors to cryptocurrency with a digital assets desk.
The investment firm is setting up a desk to hold and manage cryptocurrency assets for financial institutions.
The desk dipping a toe into the digital currency market starting with Bitcoin and Ethereum, but has plans to add other online assets in the future.
Fidelity will also broker trading the two cryptocurrencies for clients through a new arm – Fidelity Digital Assets.
“A lot of the effort over the last few months has been taking what had already been built and elevating it to a level in which we were comfortable to go to market,” said Tom Jessop, Fidelity’s head of corporate business development.
“While there are many places for consumers to buy and trade crypto, we didn’t see analogous developments for institutions.
“We made a decision to move in this direction, and that has been validated by the prospects we are talking to now.”
The desk will start trading early in 2019.
10 worst performing cryptocurrencies
Here’s a look at the 10 worst performing cryptocurrencies as listed by market monitor OnChainFX.
The table shows the cryptocurrencies that have lost the most since they hit their all-time high (ATH) – and how long ago they peaked.
|Rank||Cryptocurrency||Price||Market cap||% issued||ATH||Days since ATH||% lost from ATH|
|3||Bitcoin Diamond (BCD)||$1.75||$268,649,005||79.32%||$59.44||295||97%|
|6||LBRY Credits (LBC)||$0.041||$8,049,400||19.56%||$1.26||278||97%|
|7||Bitcoin Private (BTCP)||$2.51||$51,596,156||97.74%||$77.15||179||97%|
Exchange listing propels 0x price
The power of a leading exchange listing was demonstrated as 0x surged 30% as Coinbase announced traders could buy, store or sell the cryptocurrency.
Investors saw the move as a green light that 0x matches strict US financial regulations and is not considered a security.
0x is trading at $0.86 after peaking at $1.03 .