Fidelity Investments Reportedly Hiring Cryptocurrency Exchange Developers

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Fidelity, one of the largest companies in the multinational financial services industry, is reportedly looking to hire developers for a “digital asset exchange” according to Business Insider.

The report states that the company has posted several job openings related to the project on an internal job site, including one for a DevOps System Engineer “to help engineer, create and deploy a Digital Asset exchange to both a public and private cloud.”

A second internal post is reportedly seeking candidates who can provide “first-in-class custodian services for bitcoin and other digital currencies,” according to the website.

Anonymous sources in the report stated that the company has been planning this project for approximately one year. For now, however, Fidelity seems content to be tight-lipped regarding the exchange.

Jessica Macdonald, a Fidelity community spokeswoman, declined to comment on the validity of the Business Insider report.

The news has been met with optimism from the cryptocurrency community. Many cryptocurrency enthusiasts hope that a Fidelity cryptocurrency exchange would serve to further cryptocurrency’s widespread adoption. Fidelity is one of the biggest names in the financial industry, and a Fidelity exchange could be invaluable in helping to legitimize cryptocurrencies in the broader public consciousness.

A Fidelity exchange would also be noteworthy because it would be arguably the largest direct investment thus far from a Wall Street firm into the cryptocurrency industry. One can assume that if the reports are correct, other financial institutions will be keeping a close eye on Fidelity’s forays into the space.

The platform’s success or failure could either be the start of broader Wall Street interest in cryptocurrencies—or a confirmation that their general skepticism regarding the technologies was correct all along.

Fidelity currently manages $2.56 trillion of global assets and fidelity.com has the 14th most traffic per month of any financial website (according to SimilarWeb).

Fidelity Visits Per Month

 

Killian McGrath is a Co-Founder of Unhashed.com. He first invested in Bitcoin in 2013. Now his goal is to help educate others about cryptocurrencies and their underlying technologies.

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