Reddit 2.5M Crypto Wallets Downloads, Fidelity Offers ETH Custody, N26 And BitPanda Partnership 

Written by Crypto University

October 21, 2022

Reddit 2.5M Crypto Wallets

Reddit, a popular social media platform, reported that its users downloaded over 2.5 million Web 3 wallets. In July, Reddit announced it’s launching a Vault Web 3 wallet for its users to use NFTs as profile pictures. Thus far, the company has had over 3 million downloads.

“Exciting news! You now can transfer your Collectible Avatar to another Reddit account with a Vault or an external third-party crypto wallet,” announced Reddit in a post.

They also mentioned that users can use their NFT outside of Reddit. However, they still warned their users that sending to the wrong address results in permanent loss. In addition, they reminded users that there is no “return policy” in place to reverse transactions. 

Fidelity Offers ETH Custody

Fidelity, an asset management firm, will offer institutional Ethereum capabilities for their clients starting next week. The company’s cryptocurrency, Fidelity Digital Assets, will offer Ethereum custody and trading services to its clients. 

Fidelity Digital Assets just sent an email to customers announcing that Ethereum will be available for purchase this month,” tweeted Bruce Fenton, a Fidelity Digital Assets client. 

Fidelity said that the Ethereum Merge made many investors look at Ethereum through a new lens. The firm has over 40 million clients and has $4.5 trillion in assets under management.  

N26 And BitPanda Partnership 

N26, a German neobank, is partnering with Bitpanda, a mobile investment platform, to offer its users the ability to trade over 200 crypto coins. The company says this is due to customers requesting access to cryptocurrencies even though the market is in a downturn.

“Investing in a market like today’s market is good because it takes the fad element away,” said Gilles Bianrosa, N26’s Chief Product Officer. 

The product will initially be available in Austria before being made available to more people in the next six months. Customers will first be able to exchange 100 coins, and N26 stated that it expects to make over 200 coins accessible in the following month.

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