Exciting Cryptocurrency Message from Finance Giant Fidelity!

Finance giant Fidelity Investments hinted that it could enable crypto money transfers in the future.

Fidelity Announces They Are Exploring Cryptocurrency Transfer Feature

In its statement, the US-based company signaled that it may allow crypto transfers in the future, saying that users are not currently able to transfer crypto money in the Fidelity Crypto service it offers, but the company is investigating this option:

“You will not be able to send or receive cryptocurrencies in this first version of Fidelity Crypto. However, we are investigating crypto transfers in the future.”

In this early version of Fidelity Crypto you won’t be able to send or receive cryptocurrency. But, we’re exploring cryptocurrency transfers in the future. The best way to stay informed about our latest adventures and offerings in crypto is to turn on crypto notifications

— Fidelity Investments (@Fidelity) March 16, 2023

This move could put Fidelity in direct competition with companies like Robinhood, Coinbase and Binance.

The company was one of the first major US firms to offer digital asset trading to individual customers. This move comes after Fidelity introduced Bitcoin as an investment option for its 401(k) plans.

Fidelity’s survey revealed that despite Bitcoin’s poor performance in 2022, institutional interest in crypto remains strong, with 74% of institutions expressing a desire for future exposure to cryptocurrencies.

Galaxy Digital CEO Mike Novogratz described Fidelity allowing retail customers to buy Bitcoin as the “most bullish thing” to happen to cryptos.

Fidelity has previously launched an Ethereum Index Fund for accredited investors and a service that gives 401(k) investors access to Bitcoin.

Fidelity’s interest in the emerging sectors of Web3 seems to be growing. In December, the company filed trademarks for a number of innovative services, including non-fungible tokens (NFTs).

*Not investment advice.