SBI Ripple Asia to Use Blockchain for Securities

SBI Ripple Asia is creating a consortium that will study the use of blockchain technology in securities products
30 January 2018   758

SBI Ripple Asia, a joint venture between Japanese investment firm SBI and San Francisco-based DLT payment startup Ripple, announced on Tuesday that it is forming a consortium that will research the use of distributed ledger technology in securities products.

The company said the new consortium will improve efficiency for customers and reduce operational cost through the partnership of 18 securities firms to research and commercialize applications of emerging technologies, particularly blockchain technology.

Companies that will be part of the initiative include SBI Securities, Daiwa Securities and Nomura Securities. SBI Ripple Asia also said that the consortium will form a DLT Advanced Experiment Working Group to further its blockchain research.

We have recently reported that SBI Ripple Asia announced a successful pilot last March with 47 banks that used Ripple's technology for interbank transactions.

Fidelity Investments to Launch BTC & ETH Platform

New platform is designed for institutional investors
16 October 2018   118

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.