Two giant companies based in the USA and Argentina are launching their new services for cryptocurrencies. Investors are gradually abandoning traditional financial companies and trying to make maximum profits in the crypto space.
Argentine fintech company launches cryptocurrency transactions
Cross-border transfer service Uala announced that it has succeeded in Bitcoin and Ethereum transactions. The service will be available to 4.5 million users in the South American country in the coming weeks. Andres Rodriguez Ledermann, vice president of Asset Management at Uala, reported that the new service will initially be available to several thousand users. But in the coming weeks, all of the company’s 4.5 million Argentine customers will be able to use the service.
The platform currently only allows crypto buying and selling. Withdrawals are not yet active. Uala was the first financial player to launch cryptocurrency transactions in Argentina since the local central bank banned the two banks from allowing their customers to access cryptocurrencies in May.
Fidelity Investments launches commission-free Bitcoin and Ethereum transactions for retail investors
American multinational financial services company Fidelity has launched Bitcoin and Ethereum activities for individual investors. According to reports, the company plans to provide a commission-free cryptocurrency exchange. Fidelity currently has over $9.9 trillion in assets. The firm also recorded revenue of $24 billion in 2021. Recent reports suggest that the company will offer Bitcoin and Ethereum investment through its new cryptocurrency service.
The new platform, called Fidelity Crypto, will allow individual investors to trade Bitcoin and Ethereum. Users must have at least $1 to access trading services. Trading services will be offered through Fidelity Digital Assets, a subsidiary of Fidelity Investments. Fidelity Digital Assets has been exploring the Bitcoin and Blockchain space since 2014. However, crypto investments have been limited to institutional investors.
Fidelity’s Ethereum move
In October 2022, Fidelity Investments announced an Ethereum custodian service for institutional investors called the Ethereum Index Fund. The announcement came after the transformational Ethereum merge. During the merge, Ethereum switched from the old PoW mechanism to the PoS mechanism.
A review of Ethereum by Fidelity shows that the company’s interest in altcoins is growing. Prior to the launch of Ethereum, Bitcoin had gained popularity on the platform. The financial firm calls Bitcoin a “superior form of money.” The recent provision of Bitcoin and Ethereum transactions to individual investors via Fidelity Crypto confirms the adoption of the altcoin.
Currently, only companies like Robinhood provide commission-free transactions to individual investors. Recently, investors are gradually abandoning traditional financial companies to maximize revenues. With Fidelity Crypto, many individual investors will earn serious income by investing in Bitcoin and Ethereum. cryptocoin.comAs you follow, a similar move came from Goldman Sachs recently.
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