Fidelity Continues Embrace of Cryptocurrency

In one other signal of its rising curiosity in digital belongings, Constancy Investments has arrange a waitlist for its clients for Constancy Crypto.

In keeping with the corporate’s web site, the providing lets customers commerce bitcoin and Ethereum at no fee, spend money on shares and crypto from the identical app, and entry a studying heart the place clients can get data to make extra knowledgeable trades.

The launch comes days after a survey by Constancy that discovered that this yr’s “crypto winter” hasn’t cooled individuals’s enthusiasm for investing in digital currencies.

The agency’s findings confirmed that 58% of institutional traders had invested in digital belongings in the course of the first half of 2022, a six-point enhance from the prior yr. In the meantime, almost 75% of individuals surveyed mentioned they deliberate to speculate sooner or later.

“Whereas the markets have confronted headwinds in latest months, we consider that digital belongings fundamentals stay sturdy and that the institutionalization of the market over the previous a number of years has positioned it to climate latest occasions,” Constancy Digital Property President Tom Jessop mentioned in a information launch.

Learn extra: Constancy: 58% of Buyers Have Cash in Crypto

“Institutional traders are skilled in managing via cycles, and the largely inherent elements that they cited as interesting on this research will seemingly stay because the market emerges from this era.”

Additionally final month, Constancy mentioned it was hiring 100 extra staff for its digital belongings operations, a transfer that ought to convey the headcount of the corporate’s crypto enterprise to about 500 by the top of the primary quarter of subsequent yr.

The brand new staff have been employed for Constancy Digital Property’ shopper providers, operations, expertise, enterprise growth, advertising, and compliance departments, unfold throughout a number of cities, together with Boston, New York, London and Dublin.

In September, PYMNTS reported that the corporate was going ahead with plans to supply the choice to spend money on cryptocurrency on some employer-sponsored retirement plans. Constancy Digital Asset Accounts will supply employers the choice to let contributors make investments as much as 20% of their accounts in bitcoin.

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