Fidelity Digital Assets to Increase Workforce Due to Growing Crypto Demand from Institutional Clients

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Fidelity Investments’ president Tom Jessop has said that the company’s crypto division plans to attract additional specialists to expand its product line, The Wall Street Journal has reported.

He has said that by the end of 2022 the company will hire 110 blockchain specialists and 100 client managers.

Fidelity Investments launched in November 2019 a Bitcoin-custodial division for institutional clients. Now, the company intends to add support for Ethereum.

The arm’s team will migrate platform data and apps to the cloud to enjoy faster transactions and 24-hour trading. In addition, the company’s employees will improve compliance and tax reporting tools.

Tom Jessop has said:

“We don’t focus on recessions and aim to build the infrastructure for the future. We measure success in years and decades.”

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