Fidelity’s Crypto Division Looks for New York License Amid Bitcoin Rally

Fidelity’s crypto-asset division, the fittingly-named Fidelity Digital Asset Services — FDAS for short — is purportedly in the midst of an application process for a Trust license in New York State.

Sources tell The Block, an industry publication, that the financial institution’s crypto team has made its application to the New York Department of Financial Services, which presides over some facets of the Gemini Trust — the Winklevoss Twins’ firm — and other startups that have operations in the state.

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