One of the largest corporation for asset managing in the world, Fidelity Investment, decided to step out the fear and step in the future of the crypto industry.
The corporation is going to provide security and storage services, trade execution and customer service for digital asset.
According to Fidelity CEO Abigail Johnson, the company wants to show Wall Street traders the future world of trading:
“Our goal is to make digitally native assets, such as Bitcoin, more accessible to investors.”
It wasn’t a short-term decision to run the digital money assets department. Fidelity has been working with crypto industry for five years and mining Bitcoin (BTC) since 2015.
"We built a lot of the capabilities underlying this platform months and years ago. It’s not something where we woke up at the top of the year and said, ‘Let’s build this thing out,’ ” – stated Tom Jessop, Chief of Fidelity’s Crypto Business Department.
While most of the conventional trading companies avoid cryptocurrency and blockchain implementation (because of the absence of regulations), Fidelity tries to follow the way of innovative technology. Early next year the company will provide support for BTC and Ether (ETH), extend over-the-counter trade execution and order routing.