Specifically, Fidelity Investments’s crypto-focused division – Fidelity Digital Asset Services – has reportedly teamed up with the Singapore-based firm Stack Funds, to make its custody services available across Asia.
As part of the collaboration, Stack Fund will reportedly set up access to Fidelity’s custody offerings for its customers, in an attempt to satisfy the inclining demand from top-tier investors and family offices throughout the territory.
Stack Funds reportedly disclosed that it will be required for custodied assets to go through month-by-month audits, as well as investor protections, such as insurance coverage.
Christopher Tyrer – Fidelity Digital Assets Europe Director – reportedly remarked that the freshly established alliance will help sketch out a more clear scene of Asia-based investor demand.
“There is a critical need for platforms which have a deep understanding of what local and regional investors are looking for has historically been lacking in the digital asset space.”
Since its release 2 years ago, Fidelity Digital Assets has reportedly put in extensive efforts to make its services available across the globe. In December last year, Fidelity Digital Assets set up an official branch in the UK, to offer services to local institutional investors.