Next Wall Street giant plans its own Bitcoin stock exchange

Another institutional giant is preparing to venture into the crypto-zone. This shows how Wall Street’s opinion on crypto currencies has changed.

Investment giant Fidelity: First Steps into the Bitcoin profit

Boston-based investment firm Fidelity has announced it is hiring engineers to set up its own institutional Bitcoin profit exchange. We reported a few days ago that the first Wall Street giant would provide a Bitcoin trading desk for its 500 clients in a few weeks:

It seems that Wall Street is slowly recognizing Bitcoin as a legitimate financial product. Whether this may even have a connection with the statement of the American stock exchange supervisory authority that coins financed via crowdfounding count as securities and that Bitcoin is to be regarded as safe in the context of this classification, so to speak.

The company Fidelity, manages several trillion dollars in investment funds. The company, led by CEO Abigail Johnson, sees potential in Bitcoin. Johnson was quoted at a crypto meeting in May with the following words: “I’m an advocate, I’m one of the few from a large financial company that stands before you and hasn’t given up digital currencies.”

Advantage through Bitcoin code

Currently, a select group of clients can already integrate their Bitcoin code accounts into their Fidelity portfolio, so they can check their digital assets with other financial products offered on the Bitcoin code platform.

Whether the upcoming crypto exchange will be built within the current platform or separately is not yet known, as the company has not yet published any concrete details, including the launch date. Fidelity has already penetrated the crypto space through venture investments and has operated a crypto mining farm of its own, which CEO Johnson said was “actually making a lot of money”. In addition, Fidelity’s charitable organization makes it possible to receive donations via Bitcoin. Around $22 million could be raised through the payment facility.