BOSTON--(BUSINESS WIRE)--As digital assets continue to proliferate, they are becoming much more widely accepted. Should a person’s digital asset holdings be a part of their overall financial picture? In an effort to find out, Fidelity Labs, the R&D and innovation unit of Fidelity Investments, today launched an experiment with digital assets, accessible by the majority of Fidelity customer households across the country with Coinbase® wallet accounts.
For this test, Fidelity Labs partnered with Coinbase, a well-known digital wallet and digital asset exchange platform. Individual customers can now authorize Coinbase to provide Fidelity with data on holdings in their Coinbase wallet accounts so that customers can view their Bitcoin, Ethereum and Litecoin balances alongside other accounts in their Fidelity Portfolio Summary View on Fidelity.com.1
“Bitcoin and other blockchain technologies are emerging from their infancy but mass adoption is still many years away. And don’t underestimate their disruptive nature. Just as many other technologies have done in the past, Bitcoin and blockchain will transform how we manage our finances,” said Hadley Stern, Senior Vice President and Managing Director at Fidelity Labs.
For more information:
Founded in June of 2012, Coinbase is a digital currency wallet and platform where merchants and consumers can transact with new digital currencies like Bitcoin, Ethereum, and Litecoin, based in San Francisco, California. Bitcoin is the world's most widely used alternative currency with a total market cap of approximately $10 billion. The bitcoin network is made up of thousands of computers run by individuals all over the world. www.coinbase.com
About Fidelity Labs
Fidelity Labs is the innovation engine for Fidelity Investments. For nearly 20 years, the team of now more than 160 employees around the world has explored emerging technologies and applied human-centered design to improve people’s financial lives. They also collaborate with Fidelity’s customers to incubate potential new lines of business. Learn more at http://fidelitylabs.com
About Fidelity Investments
Fidelity’s mission is to inspire better futures and deliver better outcomes for the customers and businesses we serve. With assets under administration of $6.2 trillion, including managed assets of $2.3 trillion as of June 30, 2017, we focus on meeting the unique needs of a diverse set of customers: helping more than 26 million people invest their own life savings, 23,000 businesses manage employee benefit programs, as well as providing more than 12,500 financial advisory firms with investment and technology solutions to invest their own clients’ money. Privately held for 70 years, Fidelity employs more than 40,000 associates who are focused on the long-term success of our customers. For more information about Fidelity Investments, visit https://www.fidelity.com/about.
Fidelity Brokerage Services LLC, Member NYSE, SIPC
900 Salem Street, Smithfield, RI 02917
Fidelity Investments Institutional Services Company, Inc.,
500 Salem Street, Smithfield, RI 02917
National Financial Services LLC, Member NYSE, SIPC,
200 Seaport Boulevard, Boston, MA 02110
1 Make sure to read any terms and conditions associated with this service on the Coinbase website and this is part of using Fidelity’s FullView service.