Fidelity Digital Assets To Support Ethereum In 2020

Ethereum was recently in the spotlight when it’s been revealed that developers at Ethereum are building a revolutionary open financial system.

Finance innovation

More experts and analysts are saying these days that the traditional financial system might have worked for a while, but now, it’s definitely outdated. They believe that the time has come for something innovative and less flawed.

In order to combat failing financial policies, crypto manipulation, and the shadow banking system that are pumping the entitites that grab users’ fees, aka financial intermediaries, the developers at Ethereum are building some mind-blowing tools.

These are reportedly reimagining how money flows and how the financial services are provided.

In a recent blog post, ETH devs explain all that there is to know about decentralized finance.

Fidelity Digital Assets to support Ethereum in 2020

Now, in a new interview with the Block,Tom Jessop, president of Fidelity Digital Assets, stated that the investment giant would support Ethereum in 2020.

“We’ve done a lot of work on Ethereum. We intend to support it in the New Year. We’re very led by our clients,” he said.

He continued and pointed out at the fact that “coming back to the fact that we’re speaking to a lot of traditional institutions, Bitcoin is sort of like the gateway product, right? It’s the thing that’s got perhaps the longest track record, the most observable data points across multiple exchanges around price activity.”

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ETH in the crypto market

Despite the huge volatility of the crypto market, digital assets have been struggling to recover, but the projects behind them are going on with various developments and innovations.

Today, the crypto market looks pretty bloody with most digital assets trading in the red, and ETH is no exception.

At the moment of writing this article, ETH is trading in the red, and the coin is priced at $132.32.


Companies Mentioned

CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

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