Fidelity will show bitcoin assets and other Coinbase holdings to investors
In another major victory for digital currencies, Fidelity Investments revealed this week that it will allow clients to view Coinbase holdings on their website, including bitcoin assets.
Fidelity Chief Executive Abigail Johnson announced her company’s embrace of digital currencies at the CoinDesk Consensus conference in New York City. The news comes as the value of bitcoin has increased 100 percent over the last two months, and 400 percent over the last year.
Fidelity is currently testing Coinbase holdings integrations internally with its own employees, according to Reuters. The company expects the new initiative will launch for the public by September of this year.
“I love this stuff — bitcoin, ethereum, blockchain technology — and what the future holds,” Johnson said.
Fidelity has pushed hard for blockchain technology under Johnson, even filing a patent recently that describes how blockchain could be used to ensure fair elections. The company, which manages more than $2 trillion in assets, has been hiring up blockchain developers in recent years.
In its initial form, blockchain has been a decentralized, secure way of authorizing transactions online via a distributed ledger. But the future of blockchain is expected to become more specialized, advanced, and tailored to individual needs.
Blockchain technology is a key component of digital currencies including bitcoin, ethereum and litecoin, all of which are exchanged on Coinbase.