According to recent reports, Fidelity Investments is considering expanding its network of institutional cryptographic assets to include additional trading services for other digital assets as well as Bitcoin (BTC) and Ethereum (ETH). The startup is trying to distribute more tokens from the top five or top seven digital currencies by market capitalization on its platform. The new tokens to be listed will be added to the two already existing on the network, including Bitcoin (BTC) and Ethereum (ETH).
Fidelity Digital Asset Services for carry the Mantle for Fidelity Investments
The news of the expansion of the company's digital buying and selling system was revealed today. A company spokesperson made this knowledge public at the Block FS conference, NY. This news came in response to a question posed to Tom Jessop, responsible for the operations of Fidelity Digital Assets of CoinDesk. The question was: what other virtual currencies would be added to the Fidelity platform? The new platform discussed here will be launched in 2019.
We can remember that last month; The buy-buy powerhouse revealed that it would launch a separate company known as Fidelity Digital Asset Services. The new startup will be a separate entity from its parent company, designed to provide custody solutions for its customers and enable the trading of Bitcoin (BTC) and Ethereum (ETH). According to Jessop:
"I believe there is more demand for the four or five best digital assets in order of market capitalization. Therefore, Fidelity Digital Asset Services will take it into consideration."
Fidelity is taking a customer-driven approach to make this decision
The Fidelity executive explained that his company is implementing a customer-driven approach to this new venture. According to him, Fidelity's 13,000 more institutional clients are particularly interested in Bitcoin (BTC) and Ethereum (ETH) because both tokens represent a huge part of the current total market capitalization of the entire encrypted market. Jessop said:
"I believe that when it comes to tokens that are more likely to be considered as security or security token, we are waiting for space to develop completely", He explained and continued saying:
"Fidelity has had some interest in this sense, but we do not believe it is a basic interest, so our primary goal is the maximum of digital resources by market capitalization. You can call it from the first five to the first seven. This will be the goal before starting to build capacity for those in search. I think the time will come."
Information on Fidelity Investments
Fidelity Investments has spent over four to five years in the digital resource space. The startup has a long view of the class of cryptographic resources. He has a solid understanding of the underlying potential that technology must overcome. This is something that Jessop has compared to the Internet sweep.
The executive acknowledged that virtual goods did not have a good run this year. But he also mentioned that last year's run-off for digital assets in prices has seen Fidelity's charitable cryptocurrency donation vehicle make $ 70 million in contributions. He defined it as a good story and an excellent source of contributions.