Fidelity seeks to expand digital asset trading in addition to Bitcoin and Ether


Fidelity Investments is seeking to expand its institutional cryptographic asset platform to include trading services for the first five or seven cryptocurrencies by market capitalization.

Revealed today at the Block FS conference in New York, the news came in response to a question from CoinDesk addressed to Tom Jessop, head of Fidelity Digital Assets, on which other cryptocurrencies could be added to the platform, to be launched. next year.

Last month, the buy-side giant announced that it would launch a separate company, Fidelity Digital Asset Services, at the time stating that it would offer custody and trading services for bitcoin and ether, the cryptocurrency that feeds the ethereum blockchain.

"I think there's a demand for the next four or five in terms of market capitalization, so we'll see it," he said.

Jessop explained that Fidelity is adopting a customer-oriented approach for the time being and that its more than 13,000 institutional clients are interested in bitcoin and ether because they are an important part of the current market capitalization.

"I think when it comes to security tokens or tokens that could be considered titles, we're waiting for space to develop," he said, continuing to say:

"We've had some interest, but we do not think it's a cause of interest, so our goal is really at the top, call it five to seven, before we start building capacity for the tail, but I think it will come."

Fidelity has spent four to five years in space research and development and has a long view of the crypto asset class and the underlying technology potential, which Jessop has compared to the exponential expansion of the Internet.

He acknowledged that digital goods did not have a big run this year, pointing out that a year earlier, the price hike saw Fidelity's charitable crypto donor collect about $ 70 million in contributions.

"It was a great story and a great source of donations," added Jessop.

Photo by Marc Hochstein for CoinDesk

[ad_2]Source link