Fidelity Digital assets and Stack Funds have come together serve wealthy Asian investors and help them with Crypto investments.
The latest deal would use Fidelity’s expertise in risk mitigation to provide exclusive and safe Crypto investment services to the high-value investors in Asia.
Fidelity and Stack Funds to Offer crypto Investment to High-Value investors
Stack Funds said that they are jumping into the bandwagon to suffice the increasing need for crypto investments in the Asian markets. The wealthy investors are looking for lucrative investment options. Thus, there is a demand for a platform that understands digital asset space as the local Asian markets and investors are seeking a state-of-the-art solution.
Fidelity is a world-renowned financial institution that has stepped into the arena of digital assets. Just three months back in August, Fidelity said that they are managing Bitcoin for wealthy investors.
Crypto Goes Mainstream
The adoption of cryptocurrencies by mainstream institutions is on the rise; we have seen PayPal giving the option of transactions in Cryptocurrency on its payment’s app, then MicroStrategy and Square investing considerable amounts in Bitcoin.
Stack Funds facilitates a range of crypto products to the customers. This partnership would offer FDAs secure custody services to Asian clients and various high net worth family offices. It is interesting to note that Fidelity conducted a survey in June 2020, according to which it established that around one-third of the large institutional investors have digital assets like bitcoin or Ether. The company now wants to leverage these wealthy investors’ increasing demand by giving them a platform to invest their crypto holdings.
Stack Funds to Offer Safety to Investors
Stack Funds said its assets and holdings would be audited monthly and guarantee safety to the investors by offering insurance coverage and redemption and weekly contribution. Michael Colette, the co-founder of Stack, said that:” The firm aims to appeal to investors in the region with risk mitigation and the attraction of Fidelity’s involvement,” as cited by Bloomberg.
The road ahead is challenging as people are a bit skeptical of digital assets. “This year has been tough as far as getting people into Bitcoin because it didn’t cover itself with glory in the market downturn,” Collett said. However, there is a silver lining at the end of the dark cloud. The Stack Funds said that after the downtime and gloomy period since March, the queries and interest in the business has started to pick up again.
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