Kingdom Trust, the crypto custodian, and retirement account fund manager have reached to an agreement with the company Fidelity Digital Assets. On the 14th of July, in a press release, Kingdom Trust has announced the partnership with Fidelity Digital Assets for the sub-custody services and institutional-grade services. Kingdom Trust mentioned that “choice account will not have to manage their private keys but will choose to have bitcoin held in cold storage exclusively by Fidelity Digital Assets.” Kingdom Trust also says that Fidelity Digital is a trustworthy company with more than 801 trillion customers assets under management.
The CEO of Kingdom Trust, Ryan Radloff, explained, “Personally, I’ve grown to trust the Fidelity family of brands as an individual investor in the traditional markets, and now the bitcoin in my Choice retirement account can be kept secure by Fidelity Digital Assets. For anyone who was considering bitcoin as part of their retirement portfolio, but was waiting for the infrastructure to mature and for familiar names to enter the space, that day is today,”
Fidelity International acquires hut 8, one of the famous Bitcoin mining company’s stakes. Fidelity Digital Assets introduced two years ago, however, the company is in digital money (BTC) space from the last six years. Fidelity Digital Assets only deals with new products.
Christine Sandler, an executive at Fidelity Digital Assets, also explained that “Since our market entry less than two years ago, we’ve seen significant progress in the infrastructure supporting investors in digital assets, and an evolution in the range of investors adopting digital assets into their portfolios.” He also added that “We welcome innovation in this space and progressive offerings like the Choice retirement account that enable investments in digital assets and ultimately support the maturation of the entire ecosystem.”
Further, Radloff has detailed that the Choice account provided to the user will also cover the full spectrum of risk from holding your private keys, which includes cold storage options. Overall, Radloff has said, “Bitcoin held in a tax-advantaged Choice retirement account, with cold storage provided by Fidelity Digital Assets, is here.” He also concluded that “This is a remarkable day for bitcoin and retirement savers who demand choice, and we’re humbled to be a part of the solution.”