The New York State Department of Financial Services (DFS) has just granted Fidelity Digital Asset Services, LLC (FDAS) a license to offer virtual currency storage services and launch a bitcoin trading platform.
According to the official press release published by the institution, FDAS will operate as a limited liability financial company. The company's clients may be both institutional and individual investors. FDAS intends to launch a platform that will allow its clients to securely buy, sell and transfer bitcoins. Fidelity Digital Assets' CTO, Michael O'Reilly, has said:
"The custody and trade execution services that we provide are essential building blocks for institutional investors. We will continue to play a leading role in supporting the maturation of the entire ecosystem as we expand our business and the clients we serve."
By the end of 2018 Fidelity controlled about $7T in assets. In addition, the company has noticed an increased interest in cryptocurrencies among its clients.
In September 2015 DFS granted the first BitLicense license to Circle. It allows companies to operate with cryptocurrencies in the state of New York.
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