Fidelity Digital, the crypto arm of the global asset management giant Fidelity Investments Inc., will reportedly hire more people for its expanding cryptocurrency business.<\/p>\n
According to Bloomberg on Monday, the company is planning to increase its staff size by about 70% to handle the growing patronage from big-money crypto investors.<\/p>\n
The increased workforce, numbering at least 100, will reportedly be deployed to locations in Salt Lake City, Boston and Dublin.<\/p>\n
As part of the staff headcount expansion, Fidelity Digital president Tom Jessop said the company is looking to offer exposure to other cryptocurrencies apart from Bitcoin (BTC), telling Bloomberg: \u201cWe\u2019ve seen more interest in Ether, so we want to be ahead of that demand.\u201d<\/p>\n
Indeed, institutional interest in Ether (ETH) has been growing since the start of the year with investment inflows for ETH-based products even outpacing Bitcoin\u2019s on some occasions.<\/p>\n
Apart from diversifying into crypto investment and custody catalog, the recruits will also reportedly help the company extend its operating time in an attempt to offer full-time services \u201cfor most of the week.\u201d<\/p>\n
Unlike the legacy trading arena, the crypto market operates 24 hours a day, seven days a week. For Jessop, Fidelity Digital needs to upscale its operations to mirror this operating paradigm.<\/p>\n