Fidelity has a total of $7.4 trillion in customer assets under its management and was expected to roll out Bitcoin (BTC) trading for institutional clients in May. More recently, Fidelity Center for Applied Technology was revealed to be an early customer of the Bitcoin mining services announced by blockchain technology company Blockstream in August.

Kathleen Murphy, personal investing president of American financial services company Fidelity Investments, has said that the firm does not offer cryptocurrencies on retail trading platforms to protect its clients.

Murphy voiced this sentiment during an interview with CNBC published on Oct. 11.

After the interviewer asked when she expects users to trade cryptocurrency “in a meaningful way” on Fidelity’s platform, Murphy replied:

“You know, we’re really careful about that. So while we embrace crypto in terms of trying to understand it and be innovative and thoughtful… We’re also very careful about where we offer those types of things, so they’re not offered broadly on the retail platform. We want to be very careful about making sure that investors who really aren’t institutional investors … don’t make a mistake with cryptocurrency.”

As Cointelegraph reported on Oct. 9, Rayhaneh Sharif-Askary, director of sales and business development of cryptocurrency asset management giant Grayscale, has stated that institutional investors are constantly piling into the space in 2019.

Coinbase Gets E-Money License In Ireland, Expanding European Foothold

Coinbase is expanding its European foothold with an e-money license from the Central Bank of Ireland.

“One of just a few companies”

On Oct. 11, Zeeshan Feroz, the CEO of the United Kingdom arm of San Francisco-based cryptocurrency exchange Coinbase, announced that the exchange had become “one of just a few companies”, to have received an e-money license in Ireland.

Coinbase opened its first office in Dublin, Ireland, in October 2018 to help expand its operations in Europe and as a contingency plan for when the U.K. leaves the EU. The Coinbase U.K. CEO said:

“Europe represents a huge opportunity for Coinbase and today’s announcement is another positive step for us in the region. The approval from the Central Bank of Ireland will now enable us to expand our Irish operation and deliver a better product to customers across some of our fastest-growing markets. It will also allow us to secure passporting for our customers across the EU and EEA.”

Martin Shanahan, CEO of IDA Ireland reportedly congratulated Coinbase on receiving the e-money license from the Central Bank. IDA Ireland is the Irish state agency responsible for attracting foreign investment to the country. Shanahan said:

“Coinbase’s choice of Dublin for this operation reinforces the strength of Ireland as a destination for financial services companies, providing a consistent, certain, pro-enterprise policy environment for businesses to grow and thrive.”

Cointelegraph recently reported that according to a report by the Canada-based Blockchain Transparency Institute (BTI), Coinbase is one of the cleanest cryptocurrency exchanges in the industry.

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