U.S. megafund Fidelity targets Asian family offices wanting BitcoinBTC $13,440 (+1.8%) • ETH $388 (+0.9%) • XRP $0.244 (-0.2%)
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US-based Fidelity Investments, a trillion-dollar fund manager with a deep interest in the cryptocurrency market, is targeting rich Asian investors by way of a new partnership with a fund in Singapore, financial publication Bloomberg reported Thursday. Stack, the Singapore fund that provides access to crypto products and similar services, will cater to the high demand for cryptocurrencies from Asian family offices and high-net-worth individuals. It will promote Fidelity’s own custody services to attract clients. Cryptocurrencies have seen a textbook institutional FOMO in 2020 after nearly three years of a bear market. Firms like MicroStrategy and Square have picked up over $425 million and $50 million respectively in 2020, while hedge fund managers like Paul Tudor Jones have similarly turned to Bitcoin to protect against inflation as well. 📈 Trending … DeFi Tokens • Oracle Tokens • Biggest Gainers • Stablecoins Featured videoWhy Oasis Labs’ Dawn Song is big on privacy, quantum-resistant blockchains, and DeFi 2.0
Ever since smart contracts and blockchains gained prominence in the past few years, the concept of building scalable public ledgers that automatically handle and act on multitudes of data sources has caught on. Professor Dawn Song of the University of California at Berkeley is one such entrepreneur working on that front. More news ⏬It’s do or die for DeFi: How crypto’s latest craze can save itselfDon’t be fooled by total value locked (TVL): DeFi is on life support. Chainlink oracles to bolster AML measures for Coinfirm’s DeFi solutionLondon-based Coinfirm will now utilize Chainlink’s market-leading oracle service to provide anti-money laundering (AML) tools for DeFi projects, it said in a release Wednesday. Examining the “sell-side liquidity crisis” brewing in the Bitcoin marketEven after the five percent drop that took place on Wednesday morning, Bitcoin remains far above the lows of September and early October. Why Ripple CEO Brad Garlinghouse is against Coinbase’s apolitical stanceRipple CEO Brad Garlinghouse is not convinced with crypto exchange Coinbase’s decision to take an apolitical stance within the workspace, he said in a recent interview with CNBC. Control your wealthAd: A trusted and accessible wealth management ecosystem powered by blockchain technology, SwissBorg puts your wealth back in your hands. 🗞 Got a story tip? Email tips@cryptoslate.com Crypto market dataFor more pertinent market data, please see: Connect with usDisclaimer: None of the content in this newsletter is meant to be financial advice. Please do your own due diligence before taking any action related to the content within this article.
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U.S. megafund Fidelity targets Asian family offices wanting Bitcoin