Rumors of Fidelity Retail Crypto Plans Exposed in Recent Job Postings

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Talk of investment giant Fidelity’s plans to expand its crypto footprint to a broader, retail-centric customer base erupted into the open this week.

Still, job postings posted in recent months by Fidelity itself offer clues to the investment firm’s retail crypto ambitions, including roles that would play a part in developing wallet services. cryptographic.

A query from Fidelity’s career portal shows at least half a dozen roles with a particular focus on portfolios.

An announcement, for Senior Java Engineer, Wallet Blockchain, points out that “Fidelity Digital Assets, a Fidelity Investments company, is developing a comprehensive enterprise-grade platform for storing, trading and servicing digital assets, such as Bitcoin. and Ethereum. ”

The announcement, posted in June, later positions the role as operating in a dedicated portfolio team within the broader FDA organization:

“Within Fidelity Digital Assets, the Wallet Blockchain Foundations team is responsible for backend services and APIs that support digital asset transactions on networks such as Bitcoin and Ethereum. The team will also lead tokenization efforts.

Other roles listed touch on crypto wallet functionality in addition to other responsibilities. For example, a senior software engineer/developer role description published this month calls for “performing crypto portfolio optimization – lending and spot rates and social market analysis – in an Amazon Web Services cloud environment. (AWS), using Java, Oracle, Spring Boot and Docker”.

Another role, for a Senior Java Engineer on the Wallet Blockchain Foundations team, calls “1+ year of experience developing and maintaining smart contracts using Solidity” as a preferred skill area. Solidity is a coding language designed for use on Ethereum.

In a since-deleted job posting for a team leader, Crypto Data Analytics role, previously available on LinkedIn, Fidelity made specific reference to retail customers.

“Your team will provide revenue-generating decision support tools to market to help inform trading decisions for Fidelity retail crypto clients,” the post reads. Despite their deletion, the metadata remains visible in a Google search.

Sources with knowledge of the process tell The Block that the retail-focused plans have been in the works for some time, and those descriptions appear to follow details reported this week by The Wall Street Journal. To date, Fidelity’s crypto efforts have been geared toward institutional investors.

When reached for comment, a company representative told The Block: “While we have nothing new to announce, expanding our offerings to enable broader access to digital assets remains a area of ​​interest.”

Galaxy Digital chief executive Mike Novogratz stirred the pot of rumors during a conference appearance on Monday, commenting, “A little birdie told me that Fidelity will be moving retail customers to crypto soon. .”

© 2022 The Block Crypto, Inc. All rights reserved. This article is provided for informational purposes only. It is not offered or intended for use as legal, tax, investment, financial or other advice.

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