Fidelity Digital Assets, the digital arm of Fidelity Investments, is set to double its staff this year to reinforce and meet the mounting demand of clients who continuously invest and trade in crypto assets 24/7.
Currently having 200 employees, Fidelity Digital, with over $4.5 trillion worth of assets, is looking to hire people for the 210 new positions in the technology, operations, and client services departments geared towards other investments apart from Bitcoin.
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Fidelity Digital Wants More Talents
The company is hiring more developers and engineers with preferably some experience in blockchain.
Fidelity Investment, a retirement plan provider, is the first investment firm to allow members to diversify their 401(k) investment plans with Bitcoin savings.
Established in 2018, FDA currently has more than 400 clients comprising investment advisers and asset managers.
FDA President Tom Jessop states that “As the demand for digital assets grows steadily and the marketplace evolves, we will continue to expand our hiring efforts.”
Fidelity is also expanding to include other cryptocurrencies (CNBC).
The financial company is predicting crypto-asset growth in the next few years, and the hiring spree is their way to keep up with the growing demands of crypto.
The additional staff headcount for tech roles will be for:
- Opening up trading to support Ether and other digital assets (as of now, FDA is focused on BTC support)
- 24-hour speedy transactions and trading support
- Faster and more efficient tax compliance and reporting
- Migration of applications and data to cloud servers
- Heightened security
Digital assets like NFTs, crypto, and the metaverse are disruptive yet beaming with unlimited potential. And now is the high time to get into a career related to the digital space.
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Crypto total market cap at $1.21 trillion on the daily chart | Source: TradingView.com
Fidelity Is Crypto-Ready
Despite cryptocurrencies suffering a massive collapse, with BTC currently trading at $31,594, Fidelity Digital is hiring more people to keep up with the rising demand for crypto trading.
The company is also expanding to include other cryptocurrencies and wants to develop an infrastructure to support the Ethereum blockchain necessary for the storage and trading of Bitcoin.
As it is, Fidelity is investing for the long game that will take years and not betting on the short-term indicators. This is one of the reasons why they are hiring new staff and investing in the future despite the downward trend of the crypto market.
The company is confident that the market turmoil is temporary, and with the other blockchain talents onboard, Fidelity is crypto-ready for the future.
Featured image from CryptoHubK, chart from TradingView.com