Fidelity To Launch Crypto Trading Services?

By Prashant Jha

As per latest reports, it seems that Fidelity, a key player in the finance world, is planning to dip its toes into waters only cryptocurrency exchanges are familiar with. Apparently, in a matter of a few weeks, Fidelity will start offering crypto trading services for Bitcoin, the top and pioneering cryptocurrency and presumably some altcoins too.

According to a source cited by a fellow crypto media outlet, Fidelity is actively planning the launch of a platform that allows its substantial user base to engage in crypto trading on Bitcoin and some select cryptocurrencies. Unlike usual crypto exchanges, Fidelity will primarily focus on serving the needs of institutional investors. As per a statement given by the company’s spokeswoman Arlene Roberts, they,

“currently have a select set of clients we’re supporting on our platform. We will continue to roll out our services over the coming weeks and months based on our clients’ needs, jurisdictions, and other factors. Currently, our service offering is focused on Bitcoin.”

Earlier this year, Fidelity launched a crypto custody service and this reported decision to start a crypto trading platform represents its second outing in the crypto space in the year 2019. They have been in the news lately for a number of reasons, including its decision to hire the person who was heading digital assets at the Barclays investment bank. Fidelity, a firm known to handle more than a whopping 7 trillion dollars worth of assets, is clearly carving out a definite niche for itself in the crypto world.

Just last week, they also revealed the results of a survey which showed that several major investors with extremely deep pockets are eyeing crypto at the moment. Over the next few years, the survey report concluded, a major chunk of investors will be adding digital assets to their investment portfolios.