Fidelity Looking to Expand its Crypto and Token Research Team

Lavina Daryanani
Source: CNBC

Owing to the latest Binance-CFTC episode, the state of the crypto market has worsened. Right after the largest exchange was sued, the community sentiment turned pessimistic and asset prices started dropping. That being said, companies continue to spread their wings into the ecosystem.

Financial service giant Fidelity is currently on the lookout for a crypto and token research development lead to join its existing quantitative research and investments technology team. The “newly created senior role” will bridge the gap and help in guiding a team of quantitative developers supporting the crypto and token research team in asset management.

According to the firm, the new leadership role will require the person to work on data and technical frameworks for the evaluation of tokens and the associated blockchain protocols that form the basis of the evolving crypto and DeFi economy.

In fact, the head will also tie up with Fidelity business and technology leaders to “identify and define strategic priorities” and enable the execution of these initiatives. 

Also Read: Nasdaq to Launch Crypto Custody Services in Q2 2023

Fidelity: The macro picture

Well, Fidelity has been making advancements in the crypto, metaverse, and NFT space for quite some time. The financial services company recently opened its doors to retail crypto trading. At the moment, it offers Bitcoin and Ethereum via its custody and trading services. However, additional cryptos “are being evaluated.”

Also Read: Nissan Files 4 Web3, NFT, Metaverse Related Trademark Applications

In fact, the company is also preparing to roll out a string of Web3 products and services. Towards the end of last year, the asset management giant filed a trademark application. It plans to build an NFT marketplace along with crypto trading services in the metaverse.

Furthermore, the firm is also looking to provide a host of investment services in the Metaverse. As Watcher Guru recently reported, this entails bringing into the virtual world real-world investing services. The same included mutual funds, retirement funds, investment management, and financial planning.

Parallelly, the firm is also expected to introduce a metaverse-based payment mechanism. This service may include electronic bill payments, fund transfers, and financial management of credit card accounts in the metaverse along with other virtual worlds.

Also Read: Fidelity files trademark applications for NFT-marketplace

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