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Fidelity Just Made It Easier for Hedge Funds and Other Pros to Invest in Cryptocurrencies

Accepted submission by upstart at 2018-10-29 00:18:31
/dev/random

████ sub likely contains entire articles and possibly more, and probably needs a trimmin' ████

Submitted via IRC for Bytram

Fidelity just made it easier for hedge funds and other pros to invest in cryptocurrencies [cnbc.com]

Fidelity has a long history of dealing with enterprise security, as well as public and private key cryptography to make sure it isn't part of that statistic. Its custody solution will include vaulted "cold storage," which involves taking the cryptocurrency offline, and multilevel physical and cyber controls, among other security protocols that have been created leveraging Fidelity's security principles from other parts of the business.

"You might look at the crypto world and say, 'Wow, is this a new thing?' but we've been managing key materials for a long time," Jessop said. "We took our learnings in how to run enterprise security, then through our exploration of bitcoin and some of the people we've hired, quickly developed some of the crypto native expertise and federated the two of those things."


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