The company is the asset management Fidelity Investments plans to open its own cryptocurrency exchange. Priority will Fidelity custodial services for digital assets. This was in Saturday edition of the podcast Unconfirmed said President Fidelity Digital Asset Services Tom Jessop (Jessop Tom).
Commenting on the early reports on the launch platform for trading digital assets, Jessop said that the current exchanges are sufficient for current infrastructure. According to Jessop, Fidelity focuses on custodial services for institutional investors.
He continued, adding that the main challenge for organizations and businesses wishing to invest in the cryptocurrency are the conditions of the companies Trustees of the investment. As a rule, they require a parallel open revolving accounts. Fidelity will work with a more traditional investment model, allowing traders to perform operations on one or more exchanges at favourable rates and determining the method of settlement after the completion of the transaction.
Jessop explained that now in the cryptocurrency market many institutional investors who can’t find a suitable proposal for custodial services and are not satisfied with the trading process. Fidelity is going to occupy this niche; the company’s management believes that the data about the operated volumes — Fidelity manages assets worth $7 billion, giving potential customers additional confidence in the reliability of the custodial solutions.
At the end of the program, Jessop gave his take on the future of the market. A senior Executive at Fidelity, said that with the strengthening of the market will increase the number of institutional and private investors. He also noted that many hedge funds, family offices and research company working with emerging markets, create products and tools related to cryptocurrencies. According to Jessup, we can expect “growing inflows this year and in 2019-om, it will raise the bar for everyone and help accelerate market growth”.
First news about the future of crypto currency exchange open Fidelity came out two weeks ago after the announcement of Fidelity Asset Management. About the new product launch also announced Tom Jessop.