Fidelity Investments Staffing up to Launch Crypto Exchange: Report

  • US investment giant Fidelity Investments is reportedly looking to launch its own cryptocurrency exchange
  • This according to job postings the firm sent its employees, whichreveal it's looking for staff that can help it launch the platform.

US investment giant Fidelity Investments is reportedly looking for talent to help it launch a cryptocurrency exchange that will allow its clients to “buy and sell certain digital assets.” Sources familiar with the matter purportedly revealed the firm has been working on the project for over a year.

According to Business Insider the wealth firm, which manages over $2.5 trillion in assets, has sent employees job postings that reveal it is looking for a DevOps system engineer to “help engineer, create, and deploy a Digital Asset exchange to both a public and private cloud.”

Moreover, the company is looking to staff up its crypto division, the Fidelity Digital Asset Services unit, with workers that can develop a “first-in-class custodian services for Bitcoin and other digital currencies.”

The report cites unnamed sources said to be familiar with Fidelity’s crypto ambitions. While right now Coinbase users can use Fidelity’s platform to check their portfolios alongside other investments, the move would likely see Fidelity directly hold cryptocurrencies.

While launching a cryptocurrency exchange would be one of the biggest moves a prominent Wall Street firm has made into the crypto market, it would put Fidelity Investments in competition with other industry giants, including Coinbase, investment app Robinhood, and Goldman Sachs-backed Circle, which recently acquired Poloniex for $400 million.

At press time, it isn’t clear whether Fidelity Investments’ new cryptocurrency exchange would be available on the firm’s main platform, or whether it would be launched as a separate entity. Similarly, there’s no available information on when it’s set to be launched.

According to Dave Weisberger, a market structure specialist, Fidelity’s move may be a smart one, as it will help legitimize the market and would strategically make sense. He said:

"They have many of the components already: a significant retail footprint across the spectrum of active to less active traders, a prime brokerage area that knows how to account for custody of assets, they operate an ATS already (called 'CrossStream'), and have a reputation for excellence and risk control in their product offerings.”

Dave Weisberger

It’s worth noting Fidelity Investments’ chief executive officer, Abigail Johnson, is a well-known bitcoiner. Last year, she revealed the company internally experimented with cryptocurrencies, and even launched a small mining operation that was “actually making a lot of money,” despite only being there for educational purposes.

At the time, Johnson revealed she is a “believer,” and that she was one of the few “from a large financial services company that has not given up on digital currencies.” The company’s charitable wing, Fidelity Charitable, raised over $22 million in bitcoin last year. At press time, it still allows philanthropists to donate using the flagship cryptocurrency.

Opera Expands '30-Second' Cryptocurrency Wallet Top-Ups to Europe and Other Countries

  • Freeware web browser Opera has announced major updates for its built-in crypto wallets. 
  • Opera is partnering with Wyre to offer direct crypto purchases through the browser wallet. 

Popular pro-cryptocurrency web browser Opera has announced major updates for its blockchain-based browser on Android systems, including expanding . 

Opera, the world’s first Web 3 ready browser and the first to introduce built-in crypto wallets across mobile and computer devices, has announced major updates for the Android version of its browser. According to a press release shared with CryptoGlobe, the Norwegian-based company is adding several new features, including an expansion to the entire EU, Australia, New Zealand, Mexico and Switzerland of seamless wallet top ups, allowing users to buy cryptocurrency directly from the built-in wallet. The feature was already available for U.S.-based users.

Opera is giving users access to cloudless, decentralized web networks through IPFS-protocol support, which the company claims will change the way data is accessed online. The web browser is also allowing users to register .crypto domain names and wallet addresses to easily send and receive cryptocurrency, via a partnership with Unstoppable domains.

According to the press release, Opera is partnering with U.S. cryptocurrency-brokerage Wyre to enable easy cryptoasset purchases directly through the browser’s built-in wallet. Using a Visa or Mastercard debit card, users will be able to buy BTC or ETH directly from their wallets.

Charles hame, Head of Crypto at Opera Browsers, explained, 

Being able to acquire cryptocurrencies without having to go through an exchange, directly from the wallet makes the process easy for our users. Expanding this feature to more regions is key to driving blockchain-adoption.

Opera currently has more than 360 million users worldwide. the press release touts its monthly active user base increased by over 40% in the last half of 2019 year-over-year.

Featured Image Courtesy of Opera.