Why the World’s Largest Brokerage Made the Decision to Fully Integrate Crypto After 1 Year

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Fidelity, one of the largest brokerages and asset managers in the world, with over $7.2 trillion in assets, launched their first cryptocurrency initiative in late 2017.

They initially partnered with Coinbase, the largest crypto to fiat exchange in the world, and enabled their clients to track investments in major cryptocurrencies through their Fidelity Portfolio Summary View.

At that time, Fidelity didn’t directly integrate into the cryptocurrency infrastructure. This only allowed investors who were registered with Coinbase to view market demand from other cryptocurrency Coinbase investors.

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Within this one year period, Fidelity has now fully integrated the digital assets into their own platform.

The Fidelity Commitment

Fidelity has always maintained an open mind towards cryptocurrency and blockchain technology. Hadley Stern, senior VP of Fidelity Labs, told national publication “The Street” back in August 2017 that the firm does not underestimate the disruptive nature of blockchain, even though they still require a significant amount of work in infrastructure and adoption in order to grow.

Fidelity also mined and cryptocurrencies for brief period of time in order to better understand and analyze the digital currency. Stern explained that the initiative was driven by Fidelity Labs as an experiment on how to learn about various difficulty levels regarding how the Bitcoin network operates.

Since the partnership with Coinbase, implementation of cryptocurrency within Fidelity Portfolio View has observed a significant increase in both demand and interest from their clients.

Similar to other investment firms like Goldman Sachs, Citigroup, TD Ameritrade, and many others, the firms are very interested in investing in cryptocurrency through a regulated and transparent marketplace.

Like the rally experienced in 2017, which saw a dominant price of $20,000, which was mostly driven by retail traders and individual investors, hedge funds and institutional investors are expected to deliver an influx of capital into the cryptocurrency marketplace in the months to come.

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