President Fidelity Digital Asset Services Tom Jessop in an interview with Laura Shin shared his company’s plans. He spoke about the Fidelity decision not to run an internal exchange about how they’re going to attract institutional investors. In addition, Jessop explained why cryptocurrency wing of the company will be primarily focused on custodial services and execution of transactions.
Cryptocurrency in a more traditional Finance model
The refusal of a private exchange Jessop argued that now there are a lot of other guys who succeeded perfectly in this case. Instead, Fidelity will concentrate their energy on the implementation of market access for their existing customers.
Thus, the company will work with the already established exchanges and infrastructure. According to Jessop, the company focuses more on “the needs of institucionales”, rather than servicing retail customers. At least in the foreseeable future.
That is why Fidelity is building his platform based on the more traditional model. This step is necessary to resolve the major issues in today’s cryptosystem the market. To work on most of the exchanges today, both buyers and sellers need to have funds in advance. This results in braking.
Just from the motivation to provide a positive experience Fidelity plans to adhere to the model that will allow users to conduct transactions on any exchange at the best price. This is how the leadership treats the needs of institutional clients.
Fidelty – the perfect custody solution
Jessop also explained that today there are many investors with large cryptocurrency savings. And they have difficulty conducting transactions because of the lack of reliable and appropriate custodial services. It is this gap in the market plans to fill Fidelity. More data look at cryptodata.
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