The Digital Assets division within Fidelity Investments will have
around 500 total staff members by the first quarter of 2023, according
to a spokesperson.
$4.5 trillion asset management firm Fidelity Investments is
reportedly set to hire another 100 people to bolster the firm's growing
digital assets division — a stark contrast to the recent squeezing out
of crypto-talent.
A Fidelity representative told
Bloomberg on Oct. 22 that the firm has begun a new round of hiring
which will bring the Fidelity Digital Asset’s headcount to around 500 by
the end of the first quarter of 2023.
A search
on Fidelity’s job board currently shows 74 live results for digital
asset-related positions, which cover areas relating to blockchain
technology, business analysis, customer service, finance and accounting,
product development, and corporate services including compliance.
Almost
all of the current listings are based in the United States — with the
majority coming from its Boston headquarters, New York, Texas Colorado
and Utah.
The spokesperson told Bloomberg that the new roles would be situated throughout the U.S., U.K. and Ireland.
Fidelity’s hiring spree comes as BlockFi, Coinbase, Gemini and Crypto.com were among some of the largest crypto-native firms to lay off a spree of employees, having cut 20%, 18%, and 10% respectively.
The large layoffs appear to have opened a fresh supply of crypto talent for traditional firms like Fidelity to take on board.
Related: Fidelity’s crypto ambitions are bigger than expected: report
The digital asset team expansion should be of little surprise given how gung-ho Fidelity has been to offer more comprehensive digital asset-related services amid growing investor interest.
A Fidelity spokesperson recently confirmed to Cointelegraph that they will be offering ETH custody and trading services to its institutional clients from Oct. 28, 2022.
In September, industry participants hinted the firm may soon “shift” into offering Bitcoin trading services to its 34 million retail customers.
The
firm did not confirm the speculation at the time, only noting that
“expanding our offerings to enable broader access to digital assets
remains an area of focus.”
The firm has already launched a service that enables its 401(k) retirement saving account holders to invest directly into Bitcoin (BTC).
Cointelegraph reached out to Fidelity in regard to the firm's expansion plans but did not receive an immediate response.
source link : https://cointelegraph.com/news/fidelity-to-beef-up-crypto-unit-by-another-25-with-100-new-hires
