Fidelity Digital Assets, the crypto subsidiary of Fidelity Investments to hire 100 new employees this year
The asset management firm’s announcement comes amid rising institutional interest in cryptocurrencies
The new staff will be responsible for developing offerings beyond Bitcoin
Fidelity plans to offer 24/7/365 crypto trading
JAIPUR (Coinchapter.com) – Fidelity Digital Assets has sensed surging demand for crypto investment services amongst the institutional crowd. Therefore, the cryptocurrency subsidiary of Fidelity has decided to expand its workforce to address the growing need better.
As per a report compiled by Bloomberg, the firm plans to bump up its headcount by around 70%. This, the company said, translates to an addition of nearly 100 employees to tackle the rising institutional demand for crypto services. The recruits will be deployed at offices located in Salt Lake City, Boston, and Dublin.
This year, we’ll be adding nearly 100 new employees to support our growing business.
— Fidelity Digital Assets (@DigitalAssets) July 12, 2021
On its official Twitter handle, Fidelity Digital Assets called interested candidates to look at the current job openings while keeping an eye out for future updates.
Beyond Bitcoin
One of the reasons to increase human resources, as Head of Fidelity Digital Assets Tom Jessop quoted, is the need to go beyond Bitcoin in offerings. “We’ve seen more interest in ether, so we want to be ahead of that demand,” said Jessop.
Tom Jessop’s statement comes amid a gradual warming up of the traditional financial services industry towards Bitcoin and other crypto assets.
Especially Ether (ETH), Ethereum’s native cryptocurrency. Primarily due to reasons of the largest smart contract hosting blockchain network undergoing a critical technical upgrade.
Also, ETH deposits on crypto exchanges have depleted significantly. So Fidelity wants to capitalize on this bullish demand for the world’s second-largest cryptocurrency through its ETH offerings.
Fidelity Going The 24/7/265 Crypto Way
Diversifying Fidelity’s institutional crypto investment offerings would be the most prominent task that the incoming staff has to deal with. But apart from this, the new hires would be responsible for enabling the firm to offer Bitcoin and crypto trading facilities 24/7/365, similar to how crypto markets trade throughout the week and year without breaks.
Traditional markets on Wall Street operate from Monday to Friday (9.30 am to 4 pm) and are shut during the weekends. However, Jessop says Fidelity intends to offer crypto trading “full time for most of the week.”
The Fidelity Digital Assets boss called for the evolution of institutional crypto offerings beyond hedge funds and family offices. Jessop pointed out that retirement funds, advisors, and investment management firms are exploring offering some form of exposure to crypto assets to their clients.
Himadri is an active investor in cryptocurrencies and upcoming blockchain technology projects. He has been a part of the digital asset space since 2017 and has held multiple positions as Social Media Manager, Assistant Editor, Sponsored Content Manager, Cryptocurrency Journalist roles in reputed news outlets like NewsBTC, Bitcoinist and CryptoPotato. He has also helped numerous blockchain projects gain prominence through terse and succinct marketing/technical content. Himadri comes with a marketing and engineering background, and has worked with reputed names such as GE Healthcare, Volvo Trucks and Polycom before moving into crypto.
LAGOS (CoinChapter.com) — Following the recent collapse of TerraUSD (UST), Sam Bankman-Fried founder of cryptocurrency exchange FTX has thrown...
Our Partners
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
Cookie
Duration
Description
cookielawinfo-checbox-analytics
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checbox-functional
11 months
The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checbox-others
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-necessary
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-performance
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy
11 months
The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.