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Fidelity Crypto Arm to Introduce Ether Facilitating Feature In 2020

By Emily Rys | December 16, 2019

Tom Jessop – the current head of Fidelity Digital Assets – reportedly confirmed the arrival of a new supporting feature next year, aims to facilitate Ether, should the public demands meet the firm’s expectation. 

Specifically, during an interview with TheBlock on December 13, Jessop has provided his responses to a few questions revolving around the company – which is a crypto trading arm owned by the US trading heavyweight Fidelity. 

“We’ve done a lot of work on Ethereum. We intend to support it in the New Year. We’re very led by our clients.” Jessop shared his answer to a question about one possible facilitating feature for Ether being rolled out in the future. 

Jessop further added that the primary setbacks affecting the adoption rate of institutional crypto include price volatility, insufficient regulatory certainty, and the most serious of them all, absence of track record. 

“Meaning like, ‘How do I know that if I buy this thing, it’s gonna be around tomorrow? Like what indicia of durability or longevity do I have based on the fact that the history of this asset is 10 years old?’ I think many of these things solve themselves with time.” Jessop is positive that said obstacle will be overcome gradually. 

Fidelity has officially made its new crypto trading and custody platform available to a few specifically chosen groups of customers in March this year. The primary focus of the platform includes hedge funds, family offices, pensions, endowments, other institutional investors. 

 

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