Financial services firm Fidelity has already taken plenty of steps towards setting themselves as a bridge for onboarding institutions into digital assets. Now, the latest internal insights point out towards an expansion of crypto savviness throughout the firm.
It appears as if the Digital Assets division will not be the only area of the firm dealing closely with cryptocurrencies. Fidelity International, responsible for the European and Asian branches, is now taking steps towards blockchain, following reports regarding the possibility of a crypto-trading desk being opened by the fund manager.
Currently, employees of the firm are taking their first into cryptocurrencies with a trading simulator. More than 1,200 out of the 8,000 workers are taking part in the game, which has a competition angle given that the best performing players will be rewarded with cash prizes. Starting capital amounts to £10,000.
As reported by FN London, Tena Baker-Taylor, Global Digital Finance´s executive director, explained her views with regards to the role currently fulfilled by Fidelity:
“This signals to the market that traditional financial investment in digital assets is likely to increase and they intend to maintain their institutional first-mover advantage, providing access to digital assets to their mutual fund and pension clients, as well as private and institutional investors”.