Fidelity reportedly planning to move into cryptocurrency trading


fidelity reportedly planning to move into cryptocurrency trading

Pulse, another original and free service from. The crypto space is quickly becoming more and more mainstream as the assets have proven to be more than just a fad. The reported move in creating an exchange, if implemented, would immediately place Fidelity against Coinbase. Crypto is the future and other players in the space will be excited to have large companies in the ecosystem.

Fidelity reportedly planning to move into cryptocurrency trading
fidelity reportedly planning to move into cryptocurrency trading

fidelity reportedly planning to move into cryptocurrency trading

The firm is headquartered in Boston, Massachusetts and offers wealth management, brokerage and financial planning services. Fidelity is also recruiting staff to implement first-in-class custodian services for Bitcoin and other digital currencies. Josh McIver, CEO of ULedger: When a firm like Fidelity commits significant resources to open a digital asset exchange, it reaffirms the growing demand for regulatory compliant conduits for crypto assets. However, if Fidelity is successful in launching a digital asset exchange, it would be perhaps the largest move by a top Wall Street firm to date and could help further legitimize the rapidly growing crypto market. Eiland Glover, CEO at stablecoin project Kowala: The significance of this move to the maturation of the crypto space cannot be overstated. We see the future of financial services taking place on open and permissionless ledgers, with technologies like digital assets, currencies and Blockchains and we are very actively exploring what this may mean for Fidelity. Johnson succeeded her father, Edward Johnson, III, who was CEO since 1977. Smart money is waiting on the sidelines, and large incumbents are adopting a wait and see approach. The consequences in these cases are more dire and could in some cases mean the end of ones business.



fidelity reportedly planning to move into cryptocurrency trading

Its charity wing called Fidelity Charitable, reportedly, raised 9 million in Bitcoin in June 2017.
If a company of this size is getting into the business, it would mean a great moment of cheer for the crypto community.
However, it is not the first major company in the globe to make such a move.
Fidelity already allows its clients to link their Coinbase accounts to traditional assets in their portfolios.

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