Reserve Bank of India to Study Blockchain

As reported, by September the Supreme Court of India will issue a set of bills regulating the cryptocurrency industry
27 August 2018   426

The Reserve Bank of India (RBI) has formed a unit to study new technologies, including blockchain, cryptocurrency and artificial intelligence. This is reported by The Economic Times with reference to a source familiar with the plans of the regulator.

As the newspaper notes,  the newly created group will probably be engaged in developing technology-related bills and will monitor the introduction of innovations in the country in the future. Official commentsfrom RBI have not yet been received.

By September the Supreme Court of India will issue a set of bills regulating the cryptocurrency industry. An official from the Ministry of Finance said that future regulations will not include a direct ban on crypto-currencies.

Despite the uncertainty of the cryptocurrency regulation in India, in July the Huobi exchange announced the launch of the P2P platform for trading digital assets in a pair with the rupee.

Fidelity Investments to Launch BTC & ETH Platform

New platform is designed for institutional investors
16 October 2018   137

One of the world's largest asset managers, Fidelity Investments, announced the launch of a unit focused on providing institutional investors with Bitcoin and Ethereum services. The Forbes reports.

The new division received the name Fidelity Digital Assets and, possessing a staff of 100 employees, will provide a platform for trading cryptocurrencies and consulting services 24/7.

The platform already has first customers, but its launch for a wider range of investors is scheduled for the beginning of 2019.

This is a recognition that there is institutional demand for these assets as a class. Family offices, hedge funds, other sophisticated investors are starting to think seriously about this space.
 

Tom Jessop

Founding head, Fidelity Digital Assets

In particular, Fidelity Digital Assets will offer a transaction service that, using internal cross-connect and order routers, will trade through third-party liquidity providers.

One of the most popular offers by the company can also be a service for storing Bitcoin and other cryptocurrencies. It is physical storage, distributed in different geographical locations and offering the so-called "cold" storage of digital assets. This way of storing cryptocurrencies without access to the Internet and with a multi-level control system is considered to be one of the safest and most resistant to hacking today.

As the CEO of Fidelity Investments, Abigail Johnson, said, the goal of the new platform is to make digital assets like Bitcoin more accessible to investors.

Fidelity Investments is considered the fifth largest asset manager in the world, offering investment and custody services to 13,000 consulting firms and brokers. In total, the company manages assets worth $ 7.2 trillion.