Coinspeaker One of World’s Most Prominent Asset Managers Fidelity May Soon Take Cryptoland by StormAlthough the bears are still marauding in the Bitcoin and entire crypto market, the excitement at Fidelity is still buzzing. Recently, the company’s head of digital assets, Tom Jessop, told CNBC the Asset Manager remains bullish on the crypto space. He said:“In terms of our pipeline, prices really haven’t had an impact. If anything, they are as encouraged now as they were when prices were higher.”The company’s crypto custody and trading platform is now live. Moreover, it has progressively added new clients including family offices and hedge funds for several months. Jessop said that clients aim to hold crypto as long-term store of value and a trading opportunity. It is worth to note that an official statement made by the company in January 2019 explained that:“We are currently serving a select set of eligible clients as we continue to build our initial solutions. Over the next several months, we will thoughtfully engage with and prioritize prospective clients based on needs, jurisdiction and other factors.”Currently, the company has lots of bitcoin advocates as confirmed by the founder of BlockTower Capital, Ari Paul. Adding to the growing interest from crypto-enthusiasts, many financial institutions have also shown interest in Fidelity including Nasdaq and ICE.Fidelity Aims to Enter into Crypto SeamlesslyPast reports show that the company has slowed down the offering of crypto custodial services to the public. Speaking in March, Jessop stated that 20% of the institutions surveyed plan to increase investments in the crypto market.“We interviewed roughly 450 institutions, everyone from wealthy families to hedge funds, pensions and endowments. Approximately 22% of the respondents already own cryptocurrency, according to the findings. Those that already own it expect to double their allocation over five years.”It is evident that financial institutions, particularly multi-billion dollar corporations, move cautiously into unregulated markets. However, they may move aggressively whenever first mover advantage or significant demand is foreseeable in the nascent market. The efforts of major firms including Fidelity indicate that the digital asset class possesses exponential growth potential.Fidelity’s Consistent Indulgence in CryptoTwo years ago, Fidelity announced its interest in cryptocurrencies and planned to learn new things in the blockchain industry. Hadley Stern, an executive in Fidelity, spoke to Fortune in July 2017 explaining how the company is mining Ethereum and Bitcoin. The mining process aims at understanding how blockchain and its Consensus work.Throughout 2017, Fidelity gained more interest in digital assets aiming to create a platform to support investors in the crypto-space. The company has great zeal for crypto at all levels sparked by optimism with regards to the institutionalization rate in the crypto-space. In that connection, Ari Paul said:“Fidelity’s cryptocurrency culture is bonkers. Literally hundreds of passionate advocates at every level of seniority work at the firm. They have more people working on crypto than the five biggest crypto funds combined. “The interest showed by Fidelity during the crypto winter is vital for the survival and growth of blockchain and cryptocurrency industries. Towards the end of 2018, Jeff Sprecher, the Chairman of New York Stock Exchange, acknowledged that cryptocurrency would survive the persistent bearish trends. He concluded that:“Somehow bitcoin has lived in a swamp and survived. There are thousands of other tokens that you could argue are better but yet bitcoin continues to survive, thrive and attract attention.”Amidst all the ‘noise’ Fidelity seems to be taking time while approaching the crypto space. The company prefers to lay a strong foundation for the imminent level of institutional investment.One of World’s Most Prominent Asset Managers Fidelity May Soon Take Cryptoland by Storm
Starplay.Inc Partners With Vietnam VTV for a New Audition Program
Monday June 24, 2019
Coinspeaker Starplay.Inc Partners With Vietnam VTV for a New Audition ProgramOn Tuesday, Starplay.Inc, a company engaged in broadcast contents production, entertainment, and IT fusion business, has signed a business agreement with Vietnam Television (Vietnam VTV), a public broadcasting company. The agreement has been signed at VTV headquarters.The partnership is a part of the content production […]
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