Fidelity Investments is establishing a new unit called Fidelity Digital Assets Ltd. to serve European institutions investing in digital assets.

The new unit will offer access to enterprise-quality custody and trade execution services for digital assets to investors such as hedge funds, family offices and market intermediaries.

This follows the launch of Fidelity Digital Asset Services LLC in New York in 2018, which already provides the same services to U.S.-based institutional investors.

The Boston-based company appointed Chris Tyrer head of Fidelity Digital Assets in Europe, where he will lead client service activity.

Tyrer was most recently a managing director at Barclays Investment Bank.

Fidelity Investments is a unit of FMR LLC.