Fidelity Digital Assets to Increase Headcount by 70%: Report

Fidelity Digital Assets to Increase Headcount by 70%: Report

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."
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