Fidelity Passes the Torch in the Lightning Network Trust Chain
Financial services giant Fidelity Investments, which manages more than $2.6 trillion in client assets, has become the latest big name to participate in the ongoing Lightning Network Trust Chain, a community-driven initiative started by hodlonaut.
— Fidelity Digital Assets (@DigitalAssets) February 22, 2019
With the Trust Chain, participants send marginally more Bitcoin (BTC) to one another indefinitely, or until the value increases to the point that one unscrupulous individual decides to keep the funds — this already happened once and two generous users refunded the chain.
Fidelity Digital Assets, the cryptocurrency arm of the firm, accepted the torch from Twitter user wiz, who sent them 0.0364 BTC, or roughly $143. The torch was then passed to the Harvard Business School Blockchain & Crypto Club.
— Fidelity Digital Assets (@DigitalAssets) February 23, 2019
Fidelity is reportedly targeting a March launch date for its own crypto custody service. Bitcoin custody will be the first of many crypto products made available and insiders have indicated that Ethereum (ETH) custody is expected to be next.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.