“Can Fidelity own the rails — custody, data access, workplace retirement, and lending — that connect Americans to their financial lives across every life stage?”
Founded in 1946 as a mutual fund manager, Fidelity evolved into one of the largest diversified financial services firms globally, offering retail brokerage, retirement plan administration, institutional custody, and wealth management. Over the decades, Fidelity increasingly embedded financial products into its platform for both consumers and employers — including securities-backed lending, workplace retirement plans, and stock plan services. In the 2020s, Fidelity leaned into open banking infrastructure via its co-founding and leadership of Akoya, positioning itself as a data access gatekeeper for the US financial system.
Fidelity has applied for a conversion to national bank charter for Fidelity Digital Asset Services, LLC → national bank with the OCC. Status: conditional approval (2025-12-12).
Fidelity connects to bank accounts through Akoya.
Fidelity's crypto products run on Fidelity Digital Assets (in-house).
The Embedded Finance Index 2026 maps 3 layers in Fidelity's stack: Lending (Securities-Backed Line of Credit (SBLOC) and U.S. Bank Flexible Capital Line of Credit (via Fidelity collateral)); Open banking (Akoya); Crypto (Fidelity Digital Assets (in-house)).
Fidelity was founded by Edward C. Johnson II and is founded in 1946, headquartered in Boston, Massachusetts, USA.
Get a read on where your own stack stands against Fidelity and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.