EY has joined forces with Fidelity Digital Assets to offer its blockchain analytics platform. This partnership will establish Fidelity Digital Assets as a corporate client of EY’s web-based on-chain analytics tool, which is accessible through its blockchain Software as a Service (SaaS) platform.
Ernst & Young (EY) is a British multinational professional services firm that provides assurance, tax, consulting, and advisory services to clients around the world.
EY resulted from several mergers of ancestor firms over the last century and a half, the oldest of which was founded in 1849, in England, as Harding & Pullein.
Fidelity Digital Assets is a subsidiary of Fidelity Investments, a financial services company that provides a range of investment and wealth management services.
Fidelity Digital Assets offers services for Fidelity Crypto, allowing investors to buy and sell digital assets through the Fidelity Investments app.
It provides a range of services, including digital asset custody, trading, and advisory services, while actively developing a blockchain ecosystem to become a solutions provider.
Fidelity has partnered with companies, including BlockFi, Silvergate, and Coinbase.
On-chain analytics tool
This pioneering tool will empower Fidelity Digital Assets by granting it independent access to and the ability to query on-chain data, thereby bolstering its internal risk management processes.
EY first unveiled the blockchain analytics platform, the fourth generation of its EY Blockchain Analyzer: Reconciler, in February this year. It serves as a means to extract wallet addresses and perform on-chain data queries via a third-party entity, a crucial addition tenhancingce internal risk management processes.
Since 2018, EY has been employing a version of the web-based EY Blockchain Analyzer: Reconciler for auditing tasks associated with reconciling clients’ off-chain financial records with on-chain data.
Paul Brody, EY Global Blockchain Leader, highlighted the importance of robust internal risk management in the rapidly expanding global digital assets market.
He noted that the EY team is excited to work with Fidelity Digital AssetsSM to fortify their internal risk management.
