Fidelity Investments Aims to Release Crypto Products by Year End by @CryptoCoinsNews
Fidelity Investments Aims to Release Crypto Products by Year End by @CryptoCoinsNews
https://twitter.com/cryptocoinsnews/status/1042219321777422336?s=21
https://www.ccn.com/fidelity-investments-aims-to-release-crypto-products-by-year-end/
Fidelity Investments CEO Abigail Johnson has revealed that the company is working on a number of cryptocurrency and blockchain-related products and offerings, with their release tentatively fixed for sometime before the end of the year.
Speaking on Friday at the Boston Fintech Week conference, Johnson declined to go into any specifics regarding what exactly Fidelity is working on in the crypto space, but investors and other market participants are likely to pay close attention to subsequent Fidelity announcements as it continues to build a reputation as one of the most crypto-positive large financial service firms in the world.
‘A Few Things Underway’
Speaking about Fidelity’s plans for moving into the cryptocurrency space, Johnson said:
“We’ve got a few things underway, a few things that are partially done but also kind of on the shelf because it’s not really the right time. We hope to have some things to announce by the end of the year.”
The announcement will come as welcome news to crypto markets, which continue to anticipate the entry of large institutional investment that by and large has not yet taken place. In a market with a total capitalisation still below $300 billion despite a surfeit of publicity and investment sentiment, Fidelity has consistently been one of the few large firms that has repeatedly and openly signaled its interest.
Fidelity CEO Abigail Jonson | Source: Bloomberg/YouTube
In June, CCN reported that the company was rumored to be at work on a crypto exchange. In the same month, the company is said to have expressed interest in a hiring a fund manager to run a new cryptocurrency fund. Neither of these rumors have been confirmed by the company.