Fidelity Investments is looking to expand its institutional crypto asset platform to include trading services for the top five to seven cryptocurrencies by market capitalization, Coindesk reported.
Last month, the company announced it would be launching a separate company, Fidelity Digital Asset Services, at the time stating that it would be offering custody and trading services for bitcoin and ether.
Tom Jessop, head of Fidelity Digital Assets, said today at the Block FS conference in New York:
“I think there is demand for the next four or five in rank of market cap order. So we will be looking at that”.
Jessop explained that Fidelity is taking a customer-driven approach for now and that its institutional clients are interested in bitcoin and ether because they make up a large part of the current market cap.
“I think when it comes to security tokens or tokens that are likely to be deemed securities, we are waiting for that space to develop,” – he explained, going on to say:
“We have had some interest but we don’t think it’s a groundswell of interest, so our focus is really on the top, call it five-seven, before we start building capabilities for the tail. But I think it will come.”