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Fidelity Digital Assets will up its headcount by 70% to push beyond Bitcoin

Fidelity Digital Assets will be hiring soon. The Asset manager is anticipating growing institutional demand for crypto services in H2 of 2021 and increasing its headcount by around 70%.

According to a Bloomberg report on Monday the firm is looking to add around 100 staff in Dublin, Salt Lake City and Boston. The new hirings will further develop products and move the firm beyond Bitcoin only into other crypto assets.

Fidelity’s president, Tom Jessop, was quoted saying:

“We’ve seen more interest in ether, so we want to be ahead of that demand.”

In addition, Jessop said the firm is looking to increase trading possibilities in line with the 24-hour nature of crypto markets, to be “full time for most of the week.”

Earlier this year Jessop spoke about Bitcoin’s recent adoption and said that the maturation and adoption of the asset will continue “at a rapid pace in the coming years,” noting that “we’ve reached a tipping point.” He thereby suggested that cryptocurrency seems to have turned a corner in the area of traditional finance.

The president had also said that the crypto space is fundamentally different now compared to the 2017/18 market:

“There’s more liquidity. Volatility is down about 50% from where it was in 2017. So … we believe, that the composition of this investor base, what’s driving the market higher today, is fundamentally different than what we saw three years ago.

Fidelity also has a pending Bitcoin ETF application with the U.S. Securities and Exchange Commission

The post Fidelity Digital Assets will up its headcount by 70% to push beyond Bitcoin appeared first on iGaming.

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Author: Peter Siu