A week after Bloomberg reported that Fidelity is launching bitcoin trading soon, the firm is making new moves to ramp up its crypto business.
The financial services giant is hiring for nine positions at its digital asset arm, Fidelity Digital Assets, with roles ranging from CIO and CTO to software engineer and analyst, according to the company's job posting board.
Out of the nine positions, five ask for technical backgrounds in cybersecurity, blockchain architecture, user interface design, and others. These requirements echo the firm’s ambition to build a platform that encompasses the full life cycle of crypto trading, from managing digital assets to trade execution to settlement. The firm is also hiring analysts to support trading and settlement, likely for its custody and bitcoin trading services.
Fidelity Digital Assets was created back in October, around which time the firm also announced that it will launch its OTC trading and order routing for Bitcoin early this year. To that end, the firm launched cryptocurrency custody earlier this year and scooped the former head of digital asset projects Chris Tyler from investment bank Barclays.
In an interview with The Block, Fidelity Digital Assets head Tom Jessop said the firm tries to provide clients with a platform that can minimize administrative risks and locate the best price in crypto trading.
“Our clients want to avoid the issues associated with funding on multiple exchanges, both administrative risk, or otherwise, they want something resembling the best price experience, and so we’ll try to do that by bringing liquidity providers, and other sources of liquidity onto our platform. I think effectively a smart order router, or logic, that would interrogate the market, find the best better offer, and allow the client to execute at that price."