Fidelity to Pump More Resources into Crypto

Fidelity to Pump More Resources into Crypto


Despite the terrible headlines in the cryptocurrency market, Fidelity Digital Asset Services LLC is doubling its commitment to cryptocurrency. Fidelity Investments subsidiary Tom Jessop told the Wall Street Journal that they are looking to hire 110 technology workers, including blockchain engineers and developers, to build a digital infrastructure to support cryptocurrency services beyond Bitcoin. It also plans to add 100 customer service specialists.

Technology procurement will help create an infrastructure to support the custody and trade services of ether, the digital currency of the Ethereum network. The platform was created to manage the storage, security and trading of bitcoins.

The team will also migrate platform data and applications to the cloud to support faster transactions and 24-hour business support, and ensure that the platform continues to provide institutional-level security as it grows.

The cryptocurrency has experienced a sharp drop in prices in recent weeks. A cryptocurrency has collapsed, crashed and crashed. However, Fidelity Digital Assets plans to continue investing in technology that supports cryptocurrency trading.

“We’re trying not to focus on the falls and focus on some of the long-term indicators,” Jessop said. “We are trying to build infrastructure for the future because we measure success over years and decades, not weeks and months.”

Fidelity has recently released the Fidelity Crypto Industry and Digital Payment ETF (FDIG) and the Fidelity Metaverse ETF (FMET). FDIG offers investors a stock-based exposure to stocks with deep cryptocurrency bonds.

FDIG, which will not offer direct exposure to cryptocurrency, offers the opportunity to invest in companies that support the broader digital asset ecosystem, including those involved in mining and crypto trading, blockchain technology and digital payment processing.

Meanwhile, FMET, which tracks the Fidelity Metaverse index, offers investors exposure to growing metavers issues, such as increased digitization and connectivity, cryptocurrency opportunities, and increased computing power.

FMET can help investors invest in the evolution and future of the Internet by providing access to companies that develop, manufacture, distribute, or sell products or services related to the establishment and enabling of metavers, such as computer hardware and components. , digital infrastructure, design, etc. and engineering software, technology and game software, web development and content services, and technology for smartphones and laptops.

“Building on Fidelity’s decades of investment experience, we are focused on growing our broad product range with innovative strategies that offer options, value and new opportunities to investors,” said Greg Friedman, Head of Management and Strategy. Fidelity ETF, in a press release announcing. the start-up of the funds. “We continue to see demand, especially from young investors, for access to the fast-growing industries of the digital ecosystem, and these two themed ETFs offer investors exposure in a family-owned investment vehicle.”

For more news, information, and strategy, visit Cryptographic channel.



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