Fidelity Investments has shared its latest plans that are going to see its clients benefit tremendously. The platform has announced that it is expanding its service provisioning for retail investors.
According to the latest reports, Fidelity is anxious to introduce cryptocurrency trading services that would be offered in a commission-free environment.
Fidelity Investment has taken this step in order to provide more support and investment opportunities to retail investors in the cryptocurrency industry.
As per the investment firm, great investment interest is being witnessed in the retail sector for cryptocurrencies. The demand has continued rising and they have decided to make it happen.
The recent growth in demand is a strong indication that mainstream adoption is growing in cryptocurrencies. It was only a matter of time before they introduced trading services for retail investors.
Subsidiary to Power the Offering
Fidelity Investments has announced that Fidelity Digital Assets, the subsidiary dealing with digital assets would be powering the new offering.
According to the cryptocurrency community and the platform users, the platform is referred to as “Fidelity Crypto”.
By interacting with the new platform launched by Fidelity Crypto, the users would be able to buy and sell cryptocurrencies.
Among the cryptocurrencies offered through the platform for trading crypto are Bitcoin (BTC) and Ether (ETH). Fidelity has communicated that the users would be able to trade in BTC and ETH at minimal fees.
Incorporation of Spread
Fidelity Crypto has also revealed that they will not be implementing any commissions on trades. Instead, they will be incorporating a spread that would be applied at a rate of 1%.
The spreads would be implemented on every single trade that is carried out through the Fidelity Crypto platform.
As of now, the exact date of launch has not been confirmed by Fidelity for the new offering. Fidelity has already taken the necessary steps of welcoming investors to the new platform.
Fidelity has lost a waitlist for the users to apply and wait for early access to the trading platform by Fidelity Crypto.
The officials have confirmed that they already have a very high number of users wanting to gain access to their trading platform.
They now know how much interest there is among their users toward cryptocurrencies. Over time, they will try their best to add as many cryptocurrencies for their users as possible.
Retail and Institutional Investors
According to Fidelity executives, it is during the bearish market trends that retail and institutional investors find to be the best opportunity to invest.
They are confident that their platform would eventually help the cryptocurrency industry recover and regain its old status in the trading sector.