• Wed, 21 Aug 2019, 11:15 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Fidelity International explores blockchain tech, inches closer to launching crypto trading desk: Report

Bitcoin.Max Pixel/Max Pixel

Wed, 10 Jul 2019, 09:13 am UTC

Fidelity International was recently reported to be entering the blockchain and cryptocurrency sphere. The firm is said to be testing out a trading simulator where players can use fake digital currency to practice trading crypto coins, but that’s just the start. If it finally dives in headfirst into the crypto markets, this could lead to huge boosts for the value of the world’s leading digital currency.

In a recent report by Financial News, a source supposedly came forward with information on the matter of Fidelity’s intentions with regards to blockchain. The source said that “staff across various parts of the international business” are currently busy looking into the prospect to see how they can best capitalize on it.

Fidelity, which has already launched custody operations under "Fidelity Digital Assets," is also reportedly working on a trading desk, which is close to launching. If true, this could lead to a major shakeup of the crypto exchange market. This is on top of the crypto trading game that it is having its staff play around with.

Exclusive for in-house players only, the game supposedly starts by giving participants £10,000 in fake money to work with. From there, the players are instructed to create entire portfolios that are made entirely of cryptocurrency. Right now, there are supposedly 1,200 participants playing the game out of the 8,000 employees that Fidelity has.

Unlike the reported trading desk and Fidelity’s supposed interest in entering the crypto market, the trading simulator is no secret. It was actually unveiled last month, EthereumWorldNews reports, with Fidelity CEO Anne Richards explaining what it is about.

“We have a bitcoin trading game that we use internally, as a way of teaching people about distributed ledger technology and digital tokenisation, which ultimately will be an important part of the whole financial system going forward,” she said.

With the trading simulator combined with the potential for a Fidelity crypto exchange, bitcoin’s value could skyrocket.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $10,139.60 (-5.10%)
  • Ethereum (ETH) $188.08 (-4.72%)
  • XRP (XRP) $0.264300 (-3.87%)
  • Bitcoin Cash (BCH) $300.26 (-5.79%)
  • Litecoin (LTC) $71.97 (-4.79%)
  • Bitcoin (BTC) $10,139.60 (-5.10%)
Aug 21, 2019 (Wednesday)
11:10
Thailand’s Siam Cement Group seeks to expand Corda-based ‘Procure to Pay’ solution to 2,400 suppliers by 2020
10:40
Crypto Technicals: BCH/USD rejected at cloud, violation at 200-DMA to open up downside
10:21
Blockchain settlement startup Fnality adds former UBS and IMF executives to management team
09:17
Austrian telecom giant A1 to offer cryptocurrency payment option
09:02
Japan's Amaten, Aelf to revolutionize gift card market using blockchain
07:37
Crypto Technicals: Monero (XMR) recovery falters at major trendline resistance, slips below cloud
07:34
Blockchain securities issuance platform iownit.us obtains approval from FINRA
06:37
Crypto Technicals: ETH/USD struggles to extend gains beyond $200 mark, bias bearish below 200-DMA
06:18
Square Crypto hires Blockstream co-founder Matt Corallo to boost bitcoin adoption
06:16
Commonwealth Bank of Australia develops blockchain-based marketplace and token to protect biodiversity
05:40
Crypto Technicals: Bitcoin fails to take out $11K mark, tumbles below 55-EMA support (10428)
05:07
EMURGO inks MOUs with South Korean trade associations to boost Cardano adoption
04:15
China may launch its central bank digital currency ahead of Facebook's cryptocurrency Libra
04:06
Winklevoss twins may partner with Facebook on cryptocurrency
04:02
Malta-based crypto exchange CGEX to shut down after less than a year of operation
04:00
Bank of America files patent for multi-tiered crypto wallet
Aug 20, 2019 (Tuesday)
14:02
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
12:14
HSBC inks agreement to tap Identitii’s blockchain-based information exchange platform ‘Overlay+’
11:59
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:29
Crypto Technicals: XRP/USD fails at 21-EMA, resumes weakness with 'Doji' formation
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft