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Fidelity expands crypto department by 100 new employees

 


The 4.5 bio. Dollar-heavy wealth manager Fidelity Investments is looking to hire 100 new employees to expand its crypto division. This expansion stands in stark contrast to the job cuts at many crypto companies, which have continued to be badly hit by the crypto winter.


As a spokesman for Fidelity confirmed to Bloomberg on October 22, the asset management has already started the relevant application processes. This would increase the number of employees in Fideliy Digital Assets - i.e. the crypto department - to almost 500 employees.


A search on Fidelity's career portal shows that there are currently 74 active positions in the field of digital assets, covering areas such as blockchain, business analysis, customer service, finance, product development and compliance.


Almost all positions are advertised in the USA, with the majority located at the company's headquarters in Boston, with New York, Texas, Colorado and Utah also being prominently represented.


However, the spokesman tells Bloomberg that the new jobs will be created in the US, UK and Ireland.


Fidelity's job expansion comes at a time when many other crypto companies like BlockFi, Coinbase, Gemini, and Crypto.com have had to reduce their workforces by 20%, 18%, and 10%, respectively.


At the same time, the veritable wave of layoffs has made new crypto specialists available, which companies like Fidelity are now welcoming with a kiss.


The expansion of the crypto department comes as no surprise, because due to the high demand, Fidelity is working flat out to expand its own range of crypto services.

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