Fidelity Acquired FDAS.com

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According to an article published on CNBC, Fidelity Investments is establishing a new company called Fidelity Digital Asset Services:

“Financial services giant Fidelity is taking a huge step into cryptocurrency.

The 72-year-old firm announced the launch of a separate company, Fidelity Digital Asset Services, on Monday that will handle cryptocurrency custody and trade execution for institutional investors.”

Fidelity also announced the news in a press release published earlier this afternoon.

It looks like the company acquired the FDAS.com acronym domain name.

A current Whois record shows the registrant of FDAS.com is FMR LLC, which appears to be associated with Fidelity Investments. In fact, although FDAS.com does not currently resolve to an operational website, the domain name is set to Fidelity nameservers. My guess is that the domain name will either forward to the Fidelity Digital Asset Services website within Fidelity.com, or it could be used as a standalone website.

From what I can tell using DomainTools’ Whois History tool, it appears that the domain name was acquired sometime between April of 2017 and May of 2017. In April of 2017, the domain name was registered to an entity called Get On The Web Limited. In May of 2017, Whois records show that the domain name was registered in the name of a law firm in Boston. Fidelity is headquartered in Boston.

Screenshots.com shows that FDAS.com was listed for sale with an asking price of $20,950. From what I can see, the asking price appears to have changed over the years. A quick search at NameBio did not show any public domain name sale reports for FDAS.com. It is unknown how much the company paid to acquire FDAS.com.

It is always smart to acquire domain names prior to a major product or service launch. An acronym domain name like FDAS.com could be used my many different entities for all sorts of purposes. It seems smart that a financial services company like Fidelity would acquire this domain name prior to the news of the launch of their eponymously-named digital asset service.

3 COMMENTS

  1. Really smart of Fidelity to grab the name ahead of time and another piece of evidence that points to Crypto and Digital Assets maturing as yet another old school financial firm is getting into the game- albeit to serve institutional clients- but pretty huge news.

    Mike

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