Fidelity Investments Intends To Launch Several Crypto Projects
Fidelity Investments, one of the world's largest asset management companies, is developing new services related to blockchain and cryptocurrencies. Some projects may be launched within the next few months, Abigail Johnson, the head of the company, told Xconomy.
“We’ve got a few things underway, a few things that are partially done, but it’s not really the right time. We were trying to listen to the marketplace and anticipate what would make sense,” — Johnson stated. She clarified that the company is working on use cases for ether, bitcoin, and separately developing blockchain technology.
Fidelity CEO Abigail Johnson (left) speaks during Boston Fintech Week 2018
Fidelity Investments has been openly showing its interest in distributed technologies for a long time but has not yet introduced its own developments in this field. The release of new products will help the company to join the promising industry. As Abigail Johnson said, the firm has never tried to make money on the cryptocurrency sphere. However, last year Fidelity Investments engaged in bitcoin mining for research purposes.
Earlier the company announced the launch of a crypto exchange, as well as the development of a solution for storing of digital assets. Moreover, Fidelity Investments has been cooperating with Coinbase for about a year, thus allowing clients to learn useful information from the world of cryptocurrency.
Abigail Johnson is a strong advocate of bitcoin and blockchain. At the same time, she believes that fintech institutions should not become fully automated, as clients need to communicate with a real person occasionally.
As previously reported, the fintech company Ribbit Capital is preparing to launch another fund with a $420 million turnover.