Fidelity, one of the world’s largest financial services providers, has officially started opening retail bitcoin trading accounts.
The development comes after their announcement of a wait list previously this month. According to a report by The Block, certain users, presumably those on the wait list, received an email detailing the release, which stated that “The wait is over.”
Fidelity has been active in the bitcoin industry for some time — according to the company website, it began mining bitcoin in 2014. In addition, it launched a spot bitcoin ETF in Canada in December of 2021.
The financial services giant’s interest in bitcoin has not come without criticism, having been the subject of U.S. senators’ scrutiny for its offering of a 401k plan that allows users to allocate to bitcoin.
The same criticism has resurfaced again recently, from the same group of senators, who stated in their latest letter“Fidelity Investments has opted to expand beyond traditional finance and delve into the highly unstable and increasingly risky digital asset market.”
Compiled by Metacrunch. Metacrunch is a news complier and aggregator platform which aims to spread awareness and updates on Metaverse, Web 3.0 Technology, Blockchain, Cryptocurrency, NFTs, Airdrops and many more.
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