Fidelity Investments, one of America’s largest financial services companies, introduces a product called Digital Assets Account† This is a new offering that gives businesses access to buy Bitcoin.
Fidelity Investments’ 401(k) Savings Accounts
According to an report from the New York Times, the new product is expected to go live this summer. This allows companies, if they so choose, to add Bitcoin to their customers’ retirement savings accounts.
“We saw a growing interest from sponsors about how Bitcoin or how digital coins can be offered in a… pension plan”. Said Dave Gray, head of retirement offerings and workplace platforms at Fidelity Investments, to the NYT.
A 401(k) account is a company-sponsored retirement savings and investment plan that gives employees a tax break on the money they own. Contributions are automatically deducted from employee paychecks and invested in funds raised by employees.