Fidelity Will Add Support for Ethereum Later

Tom Jessop, the head of the crypto department at Fidelity said in an interview that the Ethereum Constantinople hardfork will delay the launch of Ethereum on Fidelity cryptocurrency platform.

Fidelity cryptocurrency platform is scheduled to launch in the first quarter (Q1) of 2019. Fidelity will add other cryptocurrencies in the near future those follow the protocols.

Tom said that initially, the cryptocurrency platform supports only Bitcoin (BTC) however more crypto coins will be added later this year that fulfils the terms of the firm and have good demand and supply ratio.

Tom added that they will go with marketcap order to list the coins. He further explained that does not mean that they will list all the coins. They have their own reason to not list a coin.

When asked about Ethereum Tom said that they will love to list Ethereum the second largest cryptocurrency by marketcap but the Constantinople hardfork delays the listing. The Ethereum network is under upgrades and Fidelity wants to see how the upgrades affect the network.

Tom said that the main focus of Fidelity is to secure users from any type of loss. Jessop gives an example of Ethereum Classic (ETC) which faced a 51 percent attack last year.

Jessop added that they are working to scale the business in 2019 and wants to cover 90 percent of its U.S market. He said:

“We’re still in the process of collecting licenses to do business in multiple jurisdictions.”

Jessop said that Fidelity gets a good interest since the announcement in October 2018. He further explained:

“We’ve still seen consistent interest from institutions, I think largely because institutions have been doing their homework and returned to understand the space, and quite frankly wouldn’t make a decision to invest at any price until they understood the Bitcoin thing”

Nasdaq, Fidelity and Bakkt are waiting to launch in 2019 and will bring institutional investors in the crypto market.

Just Hodl It.