Fidelity plans to list cryptographic resources other than Bitcoin (BTC) and Ethereum (ETH)


Loyalty plans to expand the trading of digital assets over Bitcoin (BTC) and Ethereum (ETH)

One of the world's leading institutional investment companies, Fidelity Investments, is trying to enter the encrypted game. You probably know it already, though. What you may not know is that this investment platform expects to expand its activities in the future and to include other tokens that are neither Bitcoin (BTC) nor Ethereum (ETH) on its activities.

According to a recent announcement made by the company at the Block FS conference in New York, Fidelity wants to invest in other activities from the first five to seven scrambled. This would include some other heavy hitters such as Bitcoin Cash (BCH), Stellar Lumens (XLR), Ripple (XRM) and Litecoin (LTC).

The head of Fidelity Digital Assets, Tom Jessop, said that after the launch of the platform next year, some other encrypted could be adopted by the company.

This new service will be managed by Fidelity Digital Asset Services, a new company separate from Fidelity Investments. Initially it will offer custody and trading options for both Bitcoin and Ether, but the services will be expanded after some time if everything happens according to company plans.

Jessop believes there is some demand for the other top 5 or 7 cryptos on the market and that the company "will look at it". He explained that he already has more than 13,000 institutional clients interested in Bitcoin and Ethereum because they are a large part of the market capitalization now, but there are many underutilized resources.

Going from the top

The company's strategy is very clear. Getting started with Bitcoin and Ethereum is definitely a good idea as the two resources are the most popular. After that, they will also focus on the following ones. For now, they will not focus on the least valuable resources because they are not 100% sure yet that they have sufficient demand.

Fidelity has spent the last four to five years examining cryptographic resources to understand them very well before they can invest in them. Time has been used to develop solutions that could help the company invest really well in this market.

While neither Bitcoin nor Ethereum have had great results this year, this does not seem to make people worried about Fidelity. They will enter the market only in 2019 and believe that things will get better then. Will they do them? We have to wait to find out.

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