The most renowned multinational financial services giant, Fidelity Investment Inc is expressing its interest in the blockchain technology and cryptocurrencies. The Boston-based asset managing corporation is the world’s fourth largest with assets valued over $2.5 trillion. Furthermore, now it planning to create a cryptocurrency-focused Fidelity Digital Assets firm.
Fidelity Digital Assets will focus on providing corporations and investors with blockchain and digital asset solutions. Moreover, the announcement came from a conference held at the company’s New York Headquarters.
Furthermore, Abigail Johnson, the Chairman, and the Chief Executive Officer of Fidelity Investments stated this. “Our goal is to make digitally-native assets, such as bitcoin, more accessible to investors.”
More about Fidelity Digital Assets firm
Fidelity Investments popularly knows as just Fidelity already provides financial solutions to over 13,000 financial institutions and firms. Furthermore, these financial solutions include providing investment advice, managing fund distributions, hedge funds, mutual funds, and life insurance.
Fidelity believes that investors and traders are gradually shifting towards investing in new technologies like cryptocurrencies. Moreover, the reason seems pretty vivid to them. They can use cryptocurrencies easily to store money and value. Furthermore, it can provide itself as a better option for a hedge fund.
Crypto firms like the Ripple Foundation is making global payments easier, secure and inexpensive. Investors believe this innovation could prove to be the key to the future. Fidelity wants to capture this market share of investors interested in cryptocurrencies with their firm Fidelity Digital Assets.
Tom Jessop, the Head of Fidelity Digital Assets stated this. “We started exploring blockchain and digital assets several years ago, and those efforts have been successful in helping us understand and advance our thinking around cryptocurrencies. The creation of Fidelity Digital Assets is the first step in a long-term vision to create a full-service enterprise-grade platform for digital assets.”
Fidelity is suggesting to include “Bitcoin and other digital assets” on their listing. It is expected that renowned cryptocurrencies like Ethereum (ETH), Ripple (XRP) and Litecoin (LTC) will make the cut.