Fidelity Digital Assets is planning to increase headcount by about 70%, according to Bloomberg
Fidelity Digital Assets, the cryptocurrency arm of the asset management giant Fidelity Investments, plans to add about 100 workers, roughly a 70% increase from current numbers, in technology and operations in Dublin, Boston and Salt Lake City.
The employees will help the business develop new products and expand into cryptocurrencies besides Bitcoin, as demand for cryptocurrency services from institutional investors remains strong.
In an interview, Tom Jessop, President of Fidelity Digital Assets, said that: “[Last year] was a real breakthrough year for the space, given the interest in Bitcoin that accelerated when the pandemic started. We’ve seen more interest in Ether, so we want to be ahead of that demand.”
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.”