Investment Giant Planning Crypto Exchange


US-based investment management giant Fidelity Investments is believed to be working on setting up a cryptocurrency exchange on its own, according to several media reports.

Fidelity, which is already known as crypto friendly for allowing their clients to hold bitcoin in their accounts through a partnership with the Coinbase exchange, is currently hiring engineers “to help engineer, create and deploy a Digital Asset exchange to both a public and private cloud,” according to a report by Business Insider.

The move comes after the veteran investment bank Goldman Sachs on May 2 finally admitted publicly that “bitcoin is not a fraud,” and announced plans to launch a bitcoin trading operation.

While Goldman Sachs has been a sharp critic of bitcoin and cryptocurrencies in general, Fidelity has maintained a much more positive view, and the company’s CEO Abigail Johnson is known as a long-time supporter of bitcoin.

During the Consensus 2017 conference in New York, Johnson told attendees “I love this stuff – Bitcoin, Ethereum, Blockchain technology – and what the future holds!”
No official statement has been issued by the company regarding the rumored new crypto exchange.

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