Fidelity Considering Offering Crypto Trading Services to Brokerage Customers – Report

Fidelity Considering Offering Crypto Trading Services to Brokerage Customers – Report

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Despite the crypto market downturn since stepping into this year, the daily increase in crypto users is leaving Wall Street with no option but to consider offering crypto trading services to its institutional clients.

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Fidelity is Reportedly Considering Offering Bitcoin Trading Services

As per a recent report by the Wall Street Journal, citing people with knowledge of the matter, the financial services giant Fidelity is considering whether to offer Bitcoin (BTC) trading services to brokerage customers.

This contemplation follows BlackRock’s (BLK) partnership with the US largest cryptocurrency exchange, Coinbase (COIN) to roll out crypto trading services to institutional clients.

Meanwhile, Fidelity, earlier this year disclosed plans to let corporate customers add Bitcoin (BTC) to the 401(k) plans it manages for them, a move that spurred criticism from many US senators and the US Labor Department.

According to the Wall Street Journal, Fidelity boasts of more than 34.4 million brokerage accounts.

The CEO of crypto investment firm Galaxy, Mike Novogratz, at the panel discussion at the SALT New York conference said that he heard that Fidelity was considering offering crypto trading services to its retail customers.

“A bird has told me, a little bird in my ear, that Fidelity is going to shift their retail customers into crypto soon enough,” Novogratz said. “I hope that bird is right,” said Novogratz.

Fidelity did not respond to comments immediately.

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