FDAS is making its foray into Europe at a time when the crypto space remains volatile and investors are worried about pouring funding into the space:
FDAS aims to help institutional investors get the best deals for buying and selling cryptos from different sources. Fidelity first announced FDAS in October 2018, and while it didn't disclose its assets under management, the venture has attracted interest from family offices, wealth managers, and crypto companies, including Galaxy Digital.
Regulatory hurdles continue to plague the crypto space, making investors even more unsure about investing in the asset class. Regulators globally have been slow to regulate crypto assets, with authorities in the US and Europe still whose oversight crypto-related ventures would fall under, for example, and they continue to be concerned about the "absence of applicable financial rules," per Steven Maijoor, chairman of the European Securities and Markets Authority.
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