Fidelity Investments is looking to expand its digital assets team by hiring new talent in its Fidelity Digital Assets arm. The investment management firm, which is the fifth largest asset manager in the world, is hiring in nine positions related to cryptocurrencies and blockchain technology.
One of the positions the firm is hiring is a director of product management. The successful applicant will be based in Boston and will be required to understand the needs of the digital asset clients and build tools to address these needs.
Another position the firm is hiring in is a vice president for solutions architecture. To qualify, you will need to have a software engineering background. Those with experience building applications on the Bitcoin Core or Ethereum platforms have an edge. The successful applicant will be responsible for the design, architecture and delivery of new platforms as well as maintenance of existing platforms.
The other available positions include senior data engineer, blockchain software engineer, senior analyst for settlement operations, an information security officer, and a customer service representative. A majority of these positions are based in Boston, with a few based in Salt Lake City in Utah and Westlake in Texas.
With $2.5 trillion in assets under management and $7 trillion in combined total customer asset value, Fidelity is one of the largest financial conglomerates in the world. Its entry into the crypto industry is thus one that could elevate the industry and endear it to other Wall Street giants.
As we reported recently, the company is coming ever closer to launching a crypto trading desk. And while most of the other financial firms have targeted retail traders, Fidelity intends on leveraging its network to reach institutional traders. Once launched, the trading desk will initially support Bitcoin Core (BTC) but will later expand to support other digital assets.
The firm already has a number of institutional clients that it has brought on board. The spokesperson for the firm told Bloomberg recently, “We currently have a select set of clients we’re supporting on our platform. We will continue to roll out our services over the coming weeks and months based on our clients’ needs, jurisdictions, and other factors.”
Fidelity will be competing with Bakkt, an institutional level platform by the Intercontinental Exchange that is expected to launch soon. Bakkt has been one of the most awaited developments in the crypto world and it’s expected to bring in clients that have stayed away from the industry all this while in fear of market manipulation.
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