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HomeNewsFidelity Digital Assets To Power Bitcoin Custody For Kingdom Trust Choice Retirement...

Fidelity Digital Assets To Power Bitcoin Custody For Kingdom Trust Choice Retirement Accounts

Due to an exclusive institutional agreement between Fidelity Digital Assets (FDA) and Kingdom Trust (KT),  retirees now have the option to safeguard their tax-advantaged bitcoin with Fidelity Digital Assets via a Choice by Kingdom Trust retirement account.

  • Announcing FDA as the Exclusive Custodian for Bitcoin held in cold storage via a Choice by Kingdom Trust account
  • Fidelity’s  Choice by Kingdom Trust launched the first unified retirement account for Stocks, Bitcoin, ETFs and 20,000+ other assets in May 2020.

“Personally, I’ve grown to trust the Fidelity family of brands as an individual investor in the traditional markets and now the bitcoin in my Choice retirement account can be kept secure by Fidelity Digital Assets.”

“For anyone who was considering bitcoin as part of their retirement portfolio, but was waiting for the infrastructure to mature and for familiar names to enter the space, that day is today,” stated Ryan Radloff, CEO of Kingdom Trust.

As part of the agreement, Choice members who opt for this solution will not have to manage their own private keys but will choose to have bitcoin held in cold storage exclusively by Fidelity Digital Assets, a leading provider of digital asset custody and execution services to institutional investors, and digital asset business of Fidelity Investments which administers $8.1 trillion in customer assets.

“Since our market entry less than two years ago, we’ve seen significant progress in the infrastructure supporting investors in digital assets, and an evolution in the range of investors adopting digital assets into their portfolios,” said Christine Sandler, Head of Sales and Marketing at Fidelity Digital Assets.

“We welcome innovation in this space and progressive offerings like the Choice retirement account that enable investments in digital assets and ultimately supports the maturation of the entire ecosystem.”

While Fidelity Digital Assets publicly launched their bitcoin custody service for institutional clients in late 2018, this is notably the first time that owners of self-directed IRA accounts who invest in bitcoin will be able to benefit from the infrastructure Fidelity Digital Assets has developed as a result of the exclusive custody agreement with Kingdom Trust.

“Bitcoin held in a tax-advantaged Choice retirement account, with cold storage provided by Fidelity Digital Assets is here. This is a remarkable day for bitcoin and retirement savers who demand choice – we’re humbled to be a part of the solution, said Ryan Radloff, CEO of Kingdom Trust.”

In addition to the cold-storage option announced today, Choice by Kingdom Trust offers memberships which cover the full spectrum of risk from holding your own private keys, to use your bitcoin to subsidize a free account.

Kingdom Trust is an independent qualified custodian regulated by the South Dakota Division of Banking that powers more than 100,000 retirement accounts and provides custody for more than $13 billion worth of assets.

In addition to retirement accounts, Kingdom Trust supports some of the biggest names in finance, providing a range of professional custody and escrow services for hundreds of institutional clients.

One of the world’s largest and most diversified financial services providers with more than $8.1 trillion in client assets under administration, Fidelity’s digital division offers a full-service enterprise-grade platform for securing, trading and supporting digital assets.

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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