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Fidelity Crypto Launch Could Benefit from Banking Turmoil

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Fidelity Investments launched its crypto trading service to retail customers in 36 U.S. states earlier this month, and the timing could help the brokerage benefit from recent bank turmoil.

The Fidelity Crypto platform was previously only available to institutions. Individual investors can now buy and sell bitcoin and ethereum and use custodial services provided by Fidelity Digital Assets.

Users are not yet able to transfer their assets to the platform, although the company is working on possibly rolling out that option later in the year.

Traders will also be able to use their assets as collateral to borrow from third-party lenders. Fidelity crypto's full launch may prove to be well-timed.

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