Fidelity Allows Clients to View Bitcoin Holdings on Its Website
Fidelity Investments announced its plan to integrate with the bitcoin Coinbase exchange back in May. Now it allows its clients to view their bitcoin, ether, and litecoin holdings at Coinbase from inside its web portal. Boston-based financial services corporation Fidelity Investments Inc announced on Wednesday that its customers can now view their cryptocurrency holdings at Coinbase on the company’s website.
Coinbase users will be able to view their bitcoin, ether, and litecoin holdings alongside their other accounts in their Fidelity Portfolio. This is made possible due to a partnership between the firm’s innovation center, Fidelity Labs, and Coinbase. Reuters reported: “Starting Wednesday, most Fidelity clients will be able to authorize Coinbase, one of the largest cryptocurrency exchanges in the United States, to provide the fund manager with data on their holdings.”
Fidelity Investments plan to integrate with Coinbase was announced in May by CEO Abigail Johnson. At the time, she also revealed that the cafeteria at the firm’s headquarters accepts bitcoin payments.
By integrating with Coinbase, the company aims to learn more about digital currencies. This initiative was previously tested with Fidelity employees, which is “a rare example of an established financial services company warming up to cryptocurrencies,” wrote Reuters. Fidelity Labs managing director Hadley Stern said that, “when we allowed customers to donate bitcoin to our charitable fund we were unsure about how many people would do it, but it played out well. This is an experiment in the spirit of learning what these crypto assets are like and how our customers may want to interact with them.”
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