The digital Assets division of $4.5 trillion asset management company Fidelity Investments is allegedly planning to add another 100 workers to support the division’s expanding digital assets business.
By the end of the first quarter of 2023, the Fidelity Digital Asset will have roughly 500 employees, according to a Fidelity representative who spoke with Bloomberg on October 22.
74 live results for opportunities connected to digital assets are presently available on the Fidelity job board. These roles are in the fields of blockchain technology, business analysis, customer support, finance and accounting, product development, and corporate services, including compliance.
The majority of the listings are from the company’s New York, Texas, Colorado, and Utah offices, with the majority coming from its Boston headquarters.
According to the spokesman, the new positions will be spread out across the United States, the United Kingdom, and Ireland.
Fidelity’s hiring binge comes as some of the biggest crypto-native companies, including BlockFi, Coinbase, Gemini, and Crypto.com, have been on a hiring binge, laying off 20%, 18%, and 10% of their workforces, respectively.
The significant layoffs appear to have made it easier for established companies like Fidelity to hire new crypto talent.
Given how eager Fidelity has been to provide more extensive digital asset-related services in response to rising investor interest, the growth of the digital asset team should come as little surprise.
A Fidelity representative recently said that starting on October 28, 2022, their institutional clients would be able to use their custody and trading services for Ethereum.
Participants in the business speculated that the company would soon “transition” into providing Bitcoin trading services to its 34 million retail consumers in September.
The company said merely that “growing our capabilities to give broader access to digital content is an area of priority” rather than confirming the rumors at the time.
The company has already started offering a solution that lets owners of 401(k) retirement savings accounts make direct Bitcoin investments.
Fidelity was contacted by Cointelegraph regarding the company’s expansion plans, but no response was received right away.
