Fidelity Investments, a renowned American investment company, has extended full access to its Crypto platform to retail traders in the United States.
Previously, access to this platform was only granted to users on a “white list”. However, interested Fidelity Crypto users will need to create a brokerage account and undergo verification.
Trading on the platform is currently limited to only two assets – bitcoin and ether. Fidelity does not charge any commissions on trades but maintains a spread between buy and sell prices, capped at 1%.
At the moment, users cannot withdraw funds from the platform, but this feature is expected to be enabled soon.
Currently, Fidelity has 3.71 million users, but with this development, millions more Americans will be able to trade cryptocurrencies on the platform.
Fidelity was among the first large investment and brokerage firms in the US to provide access to digital asset trading. It is worth noting that Fidelity Crypto was launched in November last year, but access was limited to users who had previously signed up on the waiting list.