Fidelity, World’s 4th Largest Asset Manager, Says Crypto Products ‘Underway’
HomeCryptocurrency NewsBitcoinist.com

Fidelity, World’s 4th Largest Asset Manager, Says Crypto Products ‘Underway’

US multinational financial services corporation Fidelity Investments plans to release details of its new cryptocurrency offerings before th...

CEDEX: The First Certified Blockchain-based Diamond Exchange
Who Will Be the Top Speakers of Blockchain & Bitcoin Conference Philippines?
Bitcoin Lightning Network Is Coming: Test a Transaction Now

US multinational financial services corporation Fidelity Investments plans to release details of its new cryptocurrency offerings before the end of the year, its CEO revealed this week.


‘A Few Things Underway’

Speaking at the Boston Fintech Week in its hometown, Abigail Johnson said the company, which is famous for its bullish stance on cryptocurrency, had several projects underway in the space.

Abigail Johnson Fidelity

“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,” she said in a conversation quoted by Xconomy.

We hope to have some things to announce by the end of the year.

Fidelity has made a name for itself bucking the risk-averse trend of traditional finance to Bitcoin 00 in recent years.

As early as 2015, the firm’s charity spin-off Fidelity Charitable began offering Bitcoin donations, a move which generated $69 million in 2017 alone.

“It worked out because there were so many people, newly incredibly wealthy through Bitcoin, who were looking to become philanthropists,” Johnson explained, calling it a “surprising hit.”

“We made it really easy for them.”

Joining The Crowded Non-Custodial Market?

Nonetheless, times have proven tough for more recent innovative undertakings, an experimental fund set up in 2017 having temporarily shut down in July as multiple senior executives left Fidelity to pursue other projects.

While not hinting about the exact nature of its future products or services, Johnson appeared to suggest they would be the result of a long evaluation process whittled down to cater to market demand.

Q4 this year will see non-custodial Bitcoin trading offerings from Wall Street veterans including Intercontinental Exchange and Citigroup, while Goldman Sachs has yet to confirm when it will launch its own project.

“What we started with was building a long list of use cases for either Bitcoin, Ethereum, other cryptocurrencies, or potentially just raw blockchain technology,” Johnson added. “Most of them have been scrapped by now or at least put on the shelf.”

What do you think Fidelity Investment’s potential crypto offerings could be? Let us know in the comments below!


Images courtesy of Shutterstock, Getty images

The post Fidelity, World’s 4th Largest Asset Manager, Says Crypto Products ‘Underway’ appeared first on Bitcoinist.com.



from Bitcoinist.com https://ift.tt/2NrUTu2
Name

Bitcoin News,5117,Bitcoinist.com,4741,Cryptocurrencies,4741,Cryptocurrencies Latest News,5117,Cryptocurrency Latest News,4741,Cryptocurrency News,9858,
ltr
item
Cryptocurrency Latest News: Fidelity, World’s 4th Largest Asset Manager, Says Crypto Products ‘Underway’
Fidelity, World’s 4th Largest Asset Manager, Says Crypto Products ‘Underway’
https://bitcoinist.com/wp-content/uploads/2018/09/shutterstock_611173433-640x400.jpg
Cryptocurrency Latest News
http://cryptocurrencylatest.blogspot.com/2018/09/fidelity-worlds-4th-largest-asset.html
http://cryptocurrencylatest.blogspot.com/
http://cryptocurrencylatest.blogspot.com/
http://cryptocurrencylatest.blogspot.com/2018/09/fidelity-worlds-4th-largest-asset.html
true
1236144943044321696
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy