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Today (October 16th), Forbes reported that Fidelity Investment is dividing an independent company, which is named Fidelity Digital Assets Service and focus on the hedge funds, family financial management and trading company and the other organization to manage the secured assets.
This company will 7*24 hourly to provide the enterprise level hosted solution, cryptocurrency executed platform and the suggested service for the organization. This company will provide the host service for the BTC, ETH and the other digital assets. According to the report the first group of customers has already participated and are planning to establish in public at the beginning in 2019 with 100 employees.
As the Wikipedia showed, until October 2018, Fidelity has already been the top four assets management company in the world, with the total assets is about 72 trillion US dollars. And the stocks and mutual funds it holds under the Fidelity Contrafund asset reaching up to 1.07 trillion US dollars. Therefore, it becomes the largest non-index funds in the United State. Based on the CNBC reported, Abigail Johnson who is the chairman and the CEO in Fidelity company said: "Our goal is to make the bitcoin and the other digital original asset to be more acceptable for the investors."
Forbes analyst, Joseph Young posted on Twitter and said that Banks & financial institutions generally follow the demand from the market. They chase money, which happens to be emerging trends. Old critics like Nouriel may not understand crypto but that's irrelevant. Fidelity, Goldman, Citi, these institutions see strong demand for crypto.
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Fundstrat Co-founder, Thomas Lee also established the twitter: as the Fidelity released a general series of service. More and more evidence shows that the organizations which participate in the crypto are the big event in 2019. BTC was very quiet in 2018 most of the time. It is clearly shown that the actual "legal funds inflow" (in 2019) is stronger than from the market.
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Thus, Northern Trust, Goldman, Citi, Morgan Stanley, American Bank and the other nine Wall Street giants released the breaking news about the consideration of trading or issue the digital currency product in succession.
On June 21st this year, from the report of the CCN, American assess management company, Reality Shares released Reality Shares Nasdaq NexGen Economy China ETF, which focuses on investing in the Chinese blockchain public companies. For now, it has already published on NASDAQ with the code is BCNA.
In August, the financial service giant Northern Trust, which is the top 500 enterprises in the largest wealth's list with the ranking of 486 in the United State, has already joined in the cryptocurrency communicate system and provide the service of cryptocurrency and mutual funds in public. At the same time, they are researching how to combine the blockchain technology to its private equipment department.
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On September 5th, that the Goldman surely claimed in the American media:" Working on the digital assets never have the timing plan. For replying for the customers who are interested in the various digital product, we are researching how to provide the service with the best quality in this field."
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On September 10th, the media also said that Citi Group renovated a low-risk cryptocurrency product DAR for the organizational investors. Even though we still don't know which stages they are in right now and when they would publish it into the market, Citi has already started to talk to the potential corporate partners.
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On September13th, another Wall Street Giant, Morgan Stanley planned to release the bitcoin swap transaction and the technical work is ready.
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On September14th, from the media, it said that the investment company Bank of America Merrill Lynch which is under the American Bank is renovated a complementary bitcoin product for trading for the customers.
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On September 22nd, Bloomberg News reported that the ex-manager in Point72 which is an American famous assess management bank's, Travis Kling said that he believes that the cryptocurrency would drop in the short term but increased in the long term. Hence, due to the market trending, the Ikigai's cryptocurrency investment combination will expend to 100 million US dollars and the risk security will achieve at 33 million US dollars at the middle of 2019.
On October 11th, CNN reported that within one month, four 100 million US dollars cryptocurrency's swap transaction successive release in public from the organizational investors, Wall Street and the others. The assess management company, Reality shares, the ex-manager in Point72 which is an American famous assess management bank's, Travis Kling and JCE Capital successive released the 100 million US dollars cryptocurrency's swap transactions.
Although the cryptocurrency market continually decreasing, the cryptocurrency swap transaction doesn't decrease but increase continually. Therefore, there are many instituted investors believed that the digital currency's price will raise up more. The market research company, Fundstrat displayed in the survey report like that: 72% of the instituted investors think that the digital currency's price increases under the global economic recession.
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It is the advantaged way for Wall Street develop in the blockchain field. Blockchain cannot live without the supervision, especially in the blockchain finance. So, as the Celes, which is the global financial supervised chain, and embraces supervision from the bottom, supports the communication of across chain and authorizes the side chain linked for serving better in developing application service in supervision institution. C-Chain would plan to work on the financial establishment, medical treatment, digital bank and etc.
In the commercial bank, organized institution and the other financial field, it is very fitted the Celes Chain in the updated service mode by using the DPOW blockchain's 3.0 consensus mechanism for the financial institutions are able to innovate their product on the Celes. Therefore, they can provide more convenient with low cost in the financial service with display the code as the legal regulation text to support the lawful, legal organization for improving their general service style.
