Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: cryptochris1 on February 23, 2019, 04:15:41 PM
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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.
igital Assets
Fidelity posted this on their Twitter feed:
We and our research team at the Fidelity Center for Applied Technology have received the #LNTorch ⚡from @Wiz.
Who should we pass it to?
wiz
@wiz
I've just passed the ⚡️Lightning Torch🔥 to @Fidelity @DigitalAssets!
They're launching a new institutional Bitcoin custody service, and the worth ₿0.0364 is their first Lightning transaction! ⚡️🔥😆
They can add that to their ~$2.5T of assets under management 😂 https://twitter.com/DigitalAssets/status/1099076994485096448 …
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.
This comes a week after Jack Dorsey, the CEO of Twitter, carried the torch worth 2,860,000 Satoshis, or roughly $98.
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.