Fidelity Investments’ digital asset arm is set to double its hires this year as it looks to bolster its resources to serve clients who want to invest in crypto assets that are traded around the clock.
Fidelity Digital Assets, which currently employs nearly 200 people, is seeking 210 new positions in customer service, technology and operations that would also focus on assets outside of bitcoin, a company spokesperson told Reuters on Tuesday.
“As the demand for digital assets continues to grow steadily and the market evolves, we will continue to expand our recruiting efforts,” said Tom Jessop, president of Fidelity Digital Assets.
Last month, Fidelity Investments became the first major retirement plan provider that allows individuals to allocate a portion of their bitcoin savings through their 401(k) investment plans.
The news of the hiring comes weeks after cryptocurrencies suffered a major slump following the collapse of stablecoin terraUSD. Stablecoins are digital tokens linked to the value of traditional assets.
Bitcoin last traded at $31,594, more than half down from its all-time high of $69,000 in November.
The digital currency market’s crush has not deterred private investment, with Hong Kong-based cryptocurrency lender and asset manager Babel Finance raising $80 million at a valuation of $2 billion last week, while venture capital giant Andreessen Horowitz raising $4.5 billion for its fourth. cryptocurrency fund.