Fidelity Labs Tests Digital Currency Trackingbr>
Fidelity Labs, Fidelity Investments’ internal research and development arm, has teamed with bitcoin exchange Coinbase to launch a test that will allow traders to view digital currency holdings.
The customer test follows its successful employee pilot, which was announced by Fidelity Investments chairman and CEO Abby Johnson, in a speech at ConsenSus 2017 in May. Johnson said at the time that Fidelity Labs has been experimenting with bitcoin micropayments, and mined bitcoin and ethereum. She also noted that Fidelity customers will soon be able to see their Coinbase holdings on Fidelity.com.
With this test launch, Fidelity customers who have Coinbase wallet accounts can authorize Coinbase to provide Fidelity with data on holdings in their Coinbase wallet accounts so that customers can view their bitcoin, ethereum and Litecoin balances alongside other accounts in their Fidelity Portfolio Summary View on Fidelity’s website.
“Bitcoin and other blockchain technologies are emerging from their infancy, but mass adoption is still many years away,” said Hadley Stern, senior vice president at Fidelity Labs. “Just as many other technologies have done in the past, bitcoin and blockchain could transform how we manage our finances. Our research in digital assets is evolving, from simple employee-only tests (such as the day I bought lunch using bitcoin in our employee cafeteria) to a broad customer pilot like the one we launched today.