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Fidelity Investments, the arm of the cryptocurrency-focused financial services giant, is partnering with Singapore-based Stack Funds to meet growing demand for cryptocurrencies in Asia.
According to a Bloomberg report on Thursday, a new partnership will allow Stack’s regional clients to access secure custody services provided by Fidelity Digital Assets.
All assets secured through Stack will be subject to monthly checks and will be insured, the company said.
“We are delighted to use Fidelity’s custody services as we see a strong increase in demand for digital assets from traditional investors across Asia,” Matthew Dibb, co-founder and chief operating officer of Stack, told CoinDesk. Funds.
Rising demand for cryptocurrencies from high net worth individuals and Asia-based family offices is accompanied by increased institutional holding in bitcoin.
Several public companies, including MicroStrategy and Square, recently revealed their bitcoin investments, sparking interest in cryptocurrencies.
“There is now a critical need for platforms that have a deep understanding of what local and regional investors are looking for,” Christopher Tyrer, head of Fidelity Digital Assets Europe, said in a statement.
