Fidelity Investments, an asset management firm, is set to hire some 100 people for the firm’s growing digital assets division. The firm has embarked on a new round of hiring despite the ongoing crypto winter.
With the completion of this round of recruitment, Fidelity Investments’ number of employees will reach 500 by the end of Q1 in 2023. The openings at the asset management firm are related to blockchain technology, business analysis, customer service, finance and accounting, product development, and corporate services, as well as compliance. The majority of the openings are based in the U.S. at its headquarters in Boston, Texas, New York, Utah, and Colorado. The new roles, as per the spokesperson, would be situated in the United States, Ireland, and United Kingdom.
Fidelity’s hiring spree follows Coinbase, BlockFi, Crypto.com, and Gemini laying off scores of employees, cutting 10 to 20%. Industry watchers say the layoffs have opened a fresh supply of crypto talent for traditional firms like Fidelity Investments. Over the years, the firm has emerged as a go-to with its comprehensive digital asset-related services amid growing investor interest. Moreover, Fidelity is set to offer Ether custody and trading services to its institutional clients from October 28. It is also looking to offer Bitcoin trading services to its 34 million retail customers, which the firm hasn’t yet confirmed.