Fidelity, managing $ 2.4 trillion, to launch crypto products by the end of 2018
Posted On March 23, 2021
Fidelity Launches Institutional Platform For Crypto (Bull Market Catalyst)
The world’s fourth largest financial company, Fidelity Investments, which manages $ 2.4 trillion in assets, announced the development of cryptocurrency-related products and plans to launch them by the end of 2018..
Fidelity Investments currently serves investors in 100 countries through insurance, pension funds, distributions and brokerage. However, the company wants to reach a new level by adding cryptocurrency and blockchain-related products to its list of services. CEO Abigail Johnson said this at the Boston Fintech conference.
According to her, the holding is currently developing a number of unique proposals. The CEO declined to provide additional information on future products, but said she hopes to launch them by the end of this year..
Fidelity Investments has been interested in cryptocurrencies for a long time and speaks publicly about the prospects of this direction. Abigail Johnson said that they have developed many options for proposals related to bitcoin, ether and other coins, but refused or temporarily stopped work on most of them. This is due to the fact that the finished result was very different from the original idea. Therefore, now the company is trying to listen to the market and offer exactly what is needed..
Morgan Stanley also recently announced that it plans to trade bitcoin pegged swaps..
text: Ivan Malichenko, photo: Bloomberg, Richard Vogel / AP / File