Fidelity Digital Assets, the crypto custody unit of US-based asset manager Fidelity Investments, more than quadrupled revenue across its UK business last year, with strong institutional client demand for its custody and trading services helping to narrow losses for the fledgling business.
Accounts filed with Companies House show Fidelity Digital Assets generated revenue of £1.34m from its core activities in the 12 months to the end of December 2022, up 134% on the previous year.
However,...