{"id":350954,"date":"2018-09-19T15:30:09","date_gmt":"2018-09-19T15:30:09","guid":{"rendered":"https:\/\/uniquehot.com\/?p=350954"},"modified":"2018-09-19T14:20:58","modified_gmt":"2018-09-19T14:20:58","slug":"fidelity-ceo-teases-crypto-product-announcement-by-end-of-the-year","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ai-and-tech\/fidelity-ceo-teases-crypto-product-announcement-by-end-of-the-year\/","title":{"rendered":"Fidelity CEO Teases Crypto Product Announcement By \u201cEnd of the Year\u201d"},"content":{"rendered":"
Boston, Massachusetts-based, $6.9 trillion asset manager and financial services company, Fidelity Investments, is close to entering the cryptocurrency space, with an announcement from the firm expected \u201cby the end of the year,\u201d if recent comments from Fidelity\u2019s CEO holds true.<\/span><\/p>\n While speaking during last week\u2019s annual Boston FinTech Week, Fidelity Investments CEO Abigail Johnson revealed<\/a> that the well-known finance firm had some cryptocurrency-related projects underway, that could be revealed by the year\u2019s end. <\/span><\/p>\n \u201cWe\u2019ve got a few things underway, a few things that are partially done but also kind of on the shelf because it\u2019s not really the right time,\u201d Johnson said, while speaking to prominent fintech thought leader Sarah Biller. \u201cWe hope to have some things to announce by the end of the year,\u201d she added, stopping short at providing further details on the plan, or which employees or departments at Fidelity have a hand in the project or projects.<\/span><\/p>\n Fidelity Investments joins Citigroup<\/a>, Goldman Sachs, and many other major players in the finance space in making preparations to enter the cryptocurrency market in a big way. The space is currently dominated Coinbase, Gemini, and a few others. These crypto-centric firms have primarily catered to retail investors, but have since begun targeting institutional investors<\/a> with recent product launches, likely in a move to preemptively beat traditional investment firms to the proverbial punch.<\/span><\/p>\n Institutional investors \u2013 often cited as the catalyst that ignites the next cryptocurrency market bull run \u2013 are leery to enter the space due to the risks and unfamiliarity involved with an emerging technology and asset class. Investing through tried-and-true traditional investment firms like Fidelity will offer an added layer of trust, comfort, and familiarity for institutional money that cannot be ignored.<\/span><\/p>\nFidelity Investments CEO Reveals Work on Crypto Products, Announcement Coming<\/span><\/h2>\n
Fidelity\u2019s Other Forays into the World of Bitcoin and Cryptocurrencies<\/span><\/h2>\n