Fidelity Digital Assets, the asset management Behemoth Fidelity’s cryptocurrency division, has disclosed its plans to hire 100 new employees in the next six months to strengthen its workforce.
Chris Tyrer, the CEO of Fidelity Digital Assets Europe and Fidelity Digital Asset Management made this statement during a panel discussion at the Blockworks Digital Asset Summit earlier this week in London.
Tyrer said, “We’ve gone through a fairly aggressive hiring spree over the last 12 months and we probably, in excess, doubled the size of our organization, so we’re probably looking at adding another 100 over the next three to six months.”
Recall that since its establishment, Fidelity Digital Assets offshoot has been actively involved in the crypto sphere. Again, the firm, which is in charge of $9.9 trillion, recently introduced an Ethereum index fund and developed a platform for digital trading assets alongside Charles Schwab and Citadel Securities.
Additionally, Fidelity Digital Assets, equally stated that to complement its current bitcoin trading and custody services, it will soon begin providing Ethereum to institutional clients. Before the announcement, the enterprise exclusively offered BTC trading services.
Hiring in Crypto Winter
Fidelity’s employment strategy is implemented at a time when numerous significant crypto companies are laying off employees. Recall that one of the oldest market makers in the sector, GSR, cut almost 10% of its personnel last week.
Similarly, the exchange hiring comes after many renowned cryptocurrency startups experienced executive departures. FTX, Kraken, Genesis, and NYDIG are leading crypto companies where top administrators have retired.
The Wall Street Journal reported back in May that Fidelity Digital Assets intended to hire 110 technical personnel and 100 customer service personnel this year.
Presently approximately 400 employees work with Fidelity Digital Assets according to Tyrer. He added that the platform services business, which includes everything from holding to trade execution, and the asset management firm are two independent entities.