Fidelity may launch crypto exchange

posted 4 months ago
Fidelity Investments, a firm that oversees $2.5 trillion in managed assets, is plotting the buildout of products that would push the market for Bitcoin to the next level.

Furthermore, Fidelity is hiring to build a digital asset exchange, according to an internal job ad. The firm is looking for a DevOps system engineer "to help engineer, create, and deploy a Digital Asset exchange to both a public and private cloud."

The firm is also working on custody solutions for crypto, according to another job ad.

If Fidelity successfully launches these products, it would represent one of the biggest moves by a Wall Street firm into the market for digital assets.

It's worth noting, Fidelity's CEO, Abigail Johnson, is a proponent of Bitcoin.

If Fidelity does launch a crypto exchange offering, it would arguably be among the biggest moves by a large Wall Street firm into the nascent crypto market, which stands at about $350 billion.
Tags: bitcoin, news