In an apparent attempt to expand its presence in the crypto industry, asset management company loyalty is expanding its hiring plan with the addition of 100 new employees to its digital assets segment.
The new hiring round will bring Fidelity Digital Assets’ workforce to approximately 500 by the end of the first quarter of next year.
The company first announced its intention to hire technicians and customer service representatives in May. Since then, the number of employees in the division has doubled.
See also: JPMorgan Taps Ex-Celsius Exec To Run Crypto – What’s Dimon’s Stance Now?
Fidelity Digital Assets expects to hire more staff in customer service, operations, technology, business development, marketing and compliance, according to to a Bloomberg report.
The new hires will be spread across multiple geographic areas, with Fidelity’s existing crypto team based in places like Boston, New York, London and Dublin.
Fidelity’s expansion shows that major financial institutions are undeterred by a $2 trillion crypto market meltdown since the market peaked about a year ago. Since then, companies like Krypto.comCoinbase Global Inc. COINand BlockFi Inc. Hundreds of employees were laid off that year.
Fidelity Digital Assets was founded in 2018. It has been one of the most prominent institutional proponents of cryptocurrency investment.
Its early offerings were trading and custody of digital assets for institutions, but now it has expanded the scope of its services.
The company launched two exchange-traded fund tracking companies in the metaverse and crypto industries in April after announcing intentions to allow 401(k) plan members to wire a portion of their funds Bitcoin BTC/USD earlier this year.
One of the largest investment managers in the world, Fidelity Investments has more than $10.3 trillion in assets under management. For more information and instructions, see click here.
