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Fidelity is considering adding five cryptocurrencies to its new encryption and custody platform for institutional investors. Currently offers Bitcoin and Ethereum.
At the Block FS conference in New York, Fidelity Digital Assets head Tom Jessop told CoinDesk that the platform could add XRP, Stellar, Bitcoin Cash, EOS and Litecoin.
"I think there's a demand for the next four or five in terms of market capitalization, so we'll see it."
According to Jessop, Bitcoin and Ethereum were chosen as the first two offers largely due to their market capitalization and brand recognition.
When it comes to adding new coins, the company is paying close attention to what customers say they want in the future. Furthermore, one of the main considerations is whether a particular currency can be considered a security.
The financial giant revealed Fidelity Digital Assets in October. The platform already offers cryptographic services to more than 13,000 customers.
Jessop told CNBC that Fidelity, a legacy leader, is ideally placed to leverage its experience and technology in the emerging world of cryptography.
"We saw that there were some things needed by institutions that only a company like Fidelity could provide.We have a technology that we have replicated from other parts of Fidelity.We can exploit all the resources of a large organization."
Fidelity holds more than $ 6.8 trillion of total customer assets, with around 27 million customers.
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Disclaimer: the opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and operations are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital assets, nor The Daily Hodl is an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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