In the latest issue of the Unconfirmed podcast, Laura Shin interviewed Fidelity President for digital assets Tom Jessup. Earlier it became known that Fidelity will open a separate unit that will be engaged in the provision of services related to cryptocurrency. This topic was devoted to the conversation.
Speaking about whether Fidelity is going to develop its own cryptocurrency exchange, Jessop explained that the existing sites are doing a good job with the responsibilities assigned to them, and his company intends to focus primarily on solutions for storing institutional-level assets that are necessary for customers interested in such operations.
Jessop also noted that a barrier to the entry of such investors into the cryptocurrency market has recently been the requirement of unfamiliar companies to make deposits to participate in the bidding. Fidelity, for its part, intends to develop a more traditional asset storage solution, with which its customers can enter into transactions on several platforms at the best prices.
Fidelity expects to fill the gap, providing a solution for cold storage of cryptocurrencies, and Jessup is confident that the status of Fidelity in the field of traditional finance will help investors without any hesitation to transfer its assets to it. “We know how to deal with security issues on a large scale,” he added.
While speaking on the matter of crypto, Jessop also suggested that the interest of retail and institutional investors will grow as the market develops. In his opinion, hedge fund managers, family capital management units and market analysts pay considerable attention to creating cryptocurrency products and tools that will be the key to the further advancement of this industry.
