Fidelity Digital Assets Expects Growing Demand for Crypto Services

Fidelity Investments is preparing to increase its staff to keep up with what they believe will be growing demand for their crypto related services and products.

The staff will be used to develop new products and expand into crypto other than Bitcoin. It’s another example of evidence that large institutions believe cryptocurrencies are here to stay.

As reported by CoinDesk:

Fidelity Digital Assets plans to increase its headcount by around 70% in anticipation of growing institutional demand for crypto services.

The asset manager’s president Tom Jessop said the firm is looking to add around 100 staff in Dublin, Salt Lake City and Boston, according to a Bloomberg report Monday.

The staff will be used to develop new products and expand beyond Bitcoin ($BTC) into other cryptocurrencies.

“We’ve seen more interest in Ether ($ETH), so we want to be ahead of that demand,” Jessop said, according to the report.

Fidelity is also looking to offer trading for more of the week, given the 24-hour nature of crypto markets. Traditional financial markets are open Monday to Friday and close overnight. Jessop says Fidelity’s intention to offer crypto trading “full-time for most of the week.”

Read the full article at coindesk.com.

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