Investment giant Fidelity may open an exchange …

Investment giant Fidelity may open cryptocurrency exchange – media

The large American investment company Fidelity, which manages $ 2.4 trillion in assets, intends to develop a product that will take the bitcoin market to a new level, writes Business Insider.

According to the publication, Fidelity is looking for employees who will create a digital asset exchange for it. This is evidenced by the proposals received by the company’s employees. In particular, the company is looking for a development and operations integration engineer who “will help develop, create and launch a digital asset exchange on public and private clouds.”.

People familiar with Fidelity’s plans in the field of cryptocurrencies have reported that the company has been working on a product for about a year now, with which its customers can buy and sell digital assets..

If Fidelity completes its plan, it will be one of the biggest steps a Wall Street player has taken in the cryptocurrency sector to date, writes Business Insider..

Market structure specialist Dave Weisberger believes that the Fidelity exchange can help shape the cryptocurrency market. “Fidelity’s reputation for delivering superior product performance to individual customers should help legitimize this asset class,” he said..

Investment giant Fidelity may open an exchange ...

Another position posted by Fidelity indicates that the company is going to create “a first-class service for storing bitcoin and other cryptocurrencies.” Both positions were placed by the cryptocurrency arm of Fidelity Digital Asset Service. Whether Fidelity has solved the issue of launching cryptocurrency services with regulators is still unknown.

Weisberg considers the creation of services for trading and storing cryptocurrencies Fidelity as a strategically correct decision. “They already have many components: a significant presence in the private equity sector, an outstanding brokerage that knows how to store assets. They already operate an automated trading system and are known for their superiority and risk control in the products they offer, ”he said..

Fidelity spokeswoman declined to answer a question about the company’s plans in the cryptocurrency market.

Investment giant Fidelity may open an exchange ...