According to several reports, Fidelity International is going to start exploring the blockchain technology through some of its Asian and European branches in order to understand the general sentiment of its client base towards cryptocurrencies.
The announcement follows up a major development in the United States where Fidelity announced they’re in the middle of implementing a framework which would help in cryptocurrency adoption in the future. More specifically, the company is focusing on introducing cryptocurrency trading services.
Fidelity has basically created Demo accounts for some of its staff members with as much as $12,500 (basically one Bitcoin) to try out and trade on the crypto market.
According to reports from inside sources as many as 8,000 people could be participating in the simulation and adapting to crypto trading strategies.
Digital economy enthusiasts have received this initiative from Fidelity with open arms saying that large corporations diversifying into blockchain is exactly what would facilitate mass adoption in the future.
The CEO of Global Digital Finance, Teana Baker-Taylor mentioned that having traditional financial institutions consider investments in the crypto market is what’s going to have the largest impact on prices, in the long run, potentially increasing volatility to new heights
Fidelity has already made major movements in the digital economy as it launched a subsidiary called Fidelity Digital Assets and tried crypto waters by itself just to get a feel of the young market.
It seems that first impressions were positive as the corporation is now exploring the trading aspect rather than the technical aspect of cryptos.