Fidelity Digital Assets to Increase Headcount by 70%: Report

The staff will be used to develop new products and expand into crypto other than bitcoin.

AccessTimeIconJul 12, 2021 at 2:44 p.m. UTC
Updated Sep 14, 2021 at 1:24 p.m. UTC

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 into other cryptocurrencies.
  • “We’ve seen more interest in ether, 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."

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Investing in the Future of the Digital Economy
October 18-19 | Spring Studio, NYC