American multinational financial services corporation Fidelity Investments' digital assets arm will double down on hiring this year as it looks to beef up its resources to serve clients who want to invest in crypto assets that trade round the clock.
Fidelity Digital Assets, which currently
employs nearly 200 people, is looking to fill 110 new positions in client
services, technology and operations that would also focus on assets beyond
bitcoin, a company spokesperson told Reuters on Tuesday (May 31).
"As the demand for digital assets
continues to steadily grow and the marketplace evolves, we will continue to
expand our hiring efforts," Tom Jessop, president of Fidelity Digital
Assets, said.
Last month, Fidelity Investments became the
first major retirement plan provider to allow individuals to allocate part of
their savings in bitcoin through their 401(k) investment plans.
News of the hiring comes weeks after
cryptocurrencies suffered a major pullback following the collapse of stablecoin
terraUSD. Stablecoins are digital tokens pegged to the value of traditional
assets.
Bitcoin was last trading at US$31,594, down
more than half from its all-time high of US$69,000 in November.
The digital currency market rout hasn't
deterred private investments, with Hong Kong-based crypto lender and asset
manager Babel Finance raising US$80 million at a US$2 billion valuation last
week, while venture capital giant Andreessen Horowitz raised US$4.5 billion for
its fourth cryptocurrency fund. REUTERS
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