Fidelty quite cautious about offering crypto says exec

American firm Fidelity Investments has voiced the strict regulatory plans implied to cryptocurrencies in order to support the protection of its clients. Kathleen Murphy, an executive, stated about the measures taken against what to offer on the network. Fidelity is expected to roll out Bitcoin trading for institutional clients in May of 2020.

ADVERTISEMENT

The personal investing president of American financial services company Fidelity Investments, Kathleen Murphy, has stated that the firm does not offer cryptocurrencies on retail trading platforms to ensure the protection of its clients. Murphy asserted this viewpoint during an¬†interview¬†with CNBC published on Oct. 11. After the interviewer asked when she expects users to trade cryptocurrency “in a meaningful way” on Fidelity’s platform, Murphy replied: “You know, we’re really careful about that. So we embrace crypto in terms of trying to understand it and be innovative and thoughtful. We’re also very careful about where we offer those types of things, so they’re not offered broadly on the retail platform. We want to be very careful about making sure that investors who really aren’t institutional investors […] don’t make a mistake with cryptocurrency.”

The firm is geared up to commence Bitcoin Trading for institutional clients in May 2020. Currently, it holds a total of $7.4 trillion worth of customer assets under its management.

ADVERTISEMENT
Ryan Asher
Ryan Asher
A post-graduate in business administration from Rutgers University, Ryan love to express his thoughts in writing. Ryan entered the crypto space by selling his car back in 2013 and investing the money into bitcoin. Apart from writing, Ryan loves to travel and believes that bitcoin is helping him fulfill his dream of traveling across the world.

Leave a reply

Please enter your comment!
Please enter your name here