Fidelity Goes Crypto
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 15 October 2018
⏱️ 6 minutes
🧾️ Download transcript
Summary
- Financial services provider Fidelity Investments is launching a cryptocurrency trading and storage platform.
- The price of the tether stablecoin (USDT) fell to an 18-month low Monday, and rumors are swirling.
- But it's not all bad news for stablecoins: Hong Kong-based cryptocurrency exchange OKEx has announced that it is adding four U.S. dollar-pegged cryptocurrencies to its platform for trading.
- Blockchain startup Adhara has secured $15 million in new funding from Consensys, the ethereum design studio. Good news for its all-star team of former banking innovators.
- Sony has developed a new blockchain-based digital rights management system that may see commercial rollout.
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Transcript
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| 0:00.0 | Fidelity is going all in on digital asset trading. |
| 0:04.6 | Good evening. I'm Nick Day. You're listening to Late Confirmation from CoinDesk, |
| 0:09.3 | bringing you the top stories from October 15th. Also on today's show, the controversial |
| 0:14.9 | stable coin USDT has lost its peg to the US dollar. We'll have all that and more coming up on late confirmation. |
| 0:24.0 | Financial Services Provider Fidelity Investments is launching a cryptocurrency trading and storage platform. |
| 0:29.7 | Fidelity Digital Asset Services LLC will provide cryptocurrency custody and trading services for enterprise clients. |
| 0:36.4 | The company announced Monday. |
| 0:38.2 | Tom Jessup, who is heading up the new division, announced a platform at Bloomberg's institutional |
| 0:43.2 | crypto event. It hopes to draw institutional investors, including hedge funds, family offices, |
| 0:48.7 | and market intermediaries. The platform will custody Bitcoin, Ethereum, and utter yet to be named cryptocurrencies at launch. |
| 0:56.5 | As part of its security system, Fidelity will hold the cryptocurrencies in cold storage, along with |
| 1:02.0 | multi-level physical and cyber controls, their release explained. |
| 1:06.5 | Fidelity is one of the five largest financial services providers in the world, maintaining |
| 1:11.2 | some $7.2 trillion in client assets, according to the release. |
| 1:17.5 | The price of the Tudder Stable Coin, USDT, fell to an 18-month low on Monday, despite a |
| 1:23.1 | general rise in their wider crypto markets. |
| 1:26.4 | At the time, the slide in the USDT price pushed up |
| 1:29.9 | the premium carried by Bitcoin prices on the Bitfinex exchange, above $600. Some reports are |
| 1:36.9 | putting the price drop down to traders losing faith in the token, amid a claimed lack of transparency |
| 1:41.7 | over Tedder's true USD holdings and rumored issues |
| 1:45.3 | at partner firm BitFinex. |
| 1:47.7 | Amidst the market moves, major crypto exchange Binance moved to temporarily suspend withdrawals |
... |
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