Investment giant Fidelity plans to launch crypto products before end of the year

Investment behemoth Fidelity plans to launch crypto products before end of the year.

Image source: Shutterstock / Trijo News

Tim Haldorsson

tim.haldorsson@trijo.co

Fidelity Investments hopes to announce new crypto products by the end of the year.

The American investment giant Fidelity Investments manages assets worth over $2,45 trillion. The company, together with CEO Abigail Johnson, have been positive about cryptocurrencies for quite some time. For example, it has previously been reported that Fidelity was building a crypto exchange.

Now, Abigail Johnson has announced that the company is working on several crypto-related products and offers. The plan is to have some products ready before the end of the year, the CEO says in an interview with Bloomberg.

Used bitcoin before

According to Abigail Johnson, Fidelity is no longer working on the crypto products that the company first intended to launch. They have some products that are almost ready but have been put on the shelf because time is not right. Instead, they are now trying to listen to the market and anticipate what might be meaningful.

By 2015, Fidelity launched its own charity organization that collected money via bitcoin. During 2017, they received $9 million in cryptocurrencies in donations, CCN reports.

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