Fidelity Drops Long Time Partners to Bring in Bitcoin Competitors
Financial services firm Fidelity Investments has dropped two of its long time partners during a process to integrate financial services that provide direct competition to bitcoin. Fidelity is ending its partnership with credit card company American Express and the Bank of America Corporation, “a 12-year partnership that has generated billions of dollars in fees,” according to Reuters. This is another blow in a series of setbacks for American Express, which recently lost its partnership with Costco Wholesale Corporation. According to Reuters, American Express reported that the loss of the....
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After reporting on Wednesday that Fidelity users would be able to add Second Market's Bitcoin Investment Trust to their list of securities in their Individual Retirement Accounts [IRA], we here at CryptoCoinsNews must issue a correction. Fidelity has done an apparent 180 in the time that this story has gone viral. On Wednesday, it was first reported on Marketwatch that some Fidelity clients had been allowed to invest in the Bitcoin Investment Trust through their IRAs. However, earlier today, Fidelity's director of public relations Rob Beauregard said specifically in a phone interview: We....
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