During a CNBC interview, Kathleen Murphy, an American investment banker and politician, shared Fidelity Investment’s dedication and commitment to protecting its clients. Murphy, who is also the personal investing president of the US-based financial services firm, said that they are cautious in selecting their crypto markets.
The interview, which was published on October 11, revealed Murphy’s sentiments toward cryptocurrency offerings. She said that while Fidelity Investments is very open in embracing the innovations brought by cryptocurrency and is in full support for its growth and development, the firm is still reluctant to go so broad using the platform. She noted that they always make sure they are dealing with institutional investors only. As Murphy emphasized, to be able to protect their clients, there should be no room for mistakes.
We are very careful about where we offer crypto, says Fidelity Personal Investing President Kathleen Murphy. "We want to be very careful that investors don't –who really aren't institutional investors don't make a mistake with cryptocurrency." #bitcoin pic.twitter.com/VSXGmUPcB3— Squawk Box (@SquawkCNBC) October 11, 2019
Fidelity Investments is a US-based multinational financial services corporation. It oversees and monitors customer assets amounting to $7.4 trillion, a figure that makes the company one of the largest asset managers in the world.
Previous industry reports claim that Fidelity Investments is planning to launch a BTC trading platform for institutional investors in May. Meanwhile, more recent reports confirmed that the Fidelity Center for Applied Technology, the asset manager’s subsidiary, was one of the pioneer customers of the Bitcoin mining services. Blockstream, a Blockchain-based tech firm, disclosed the details.
In May, Fidelity Investments conducted a survey which involved institutional investors based in the United States. The results revealed that around 22% of respondents already own cryptocurrencies, while 40% expressed their intent to invest in digital assets as well.