Fidelity May Delay Ethereum Listing Due To Hard Fork
The division for trading and custody of digital assets of the American financial corporation Fidelity Investments presented the primary standards for the valuation of cryptocurrencies. This was announced by Tom Jessop, President of Fidelity Digital Assets (FDAS).
Jessop previously stated that FDAS plans to implement support for Ethereum and other cryptocurrencies, however, judging by the latest data, this may not happen too soon..
“We currently support bitcoin, we plan to implement support for other coins, guided by our standards, which include demand from customers and other factors,” he explained..
Among other things, Fidelity will assess the level of decentralization of digital assets and look for “specifics” that may make it difficult to list or maintain them on the FDAS platform.
The demand for cryptocurrency in most cases is reflected by the size of its capitalization, Jessop explained. “We may go through the list in order of market cap, but that does not mean that we will list every coin. There may be reasons that will force us to withdraw from the listing, but they have nothing to do with demand, he added. “We would like to add support for ether, but we are aware of the hard fork and updates, so we will try to make the necessary assessment before making a decision.”.
The Constantinople hard fork at the end of February included a number of changes, including the size of the block rewards. The next protocol update is scheduled for October.
Jessop also said that Fidelity wants to guarantee the safety of investors and, as another example, pointed to Ethereum Classic, the decision to support which requires a deep risk assessment due to the 51% attack that the cryptocurrency blockchain was previously subjected to..
Jessop refused to disclose information on the timing of adding specific cryptocurrencies to the FDAS platform, the asset storage component of which is already functioning..