Abigail Johnson who is the CEO of Fidelity Investments has kept the promise she made in May connected to blockchain technology. She then explained how her company completely supports cryptocurrencies and now she has put those words into action. Fidelity Investments has implemented an option on their main website that allows traders to display holdings in Litecoin, Bitcoin and Ethereum.
This was not a solo project as Fidelity has partnered up with Coinbase as they integrated the complete data from the digital wallet provider. Their US clients can now allow their fund managers to display and view the details of their holdings in cryptocurrencies.
Johnson stated in May: “I love this stuff – bitcoin, ethereum, blockchain technology – and what the future holds.
She also added: “We have built proofs of concepts that accept bitcoin micro-transactions. We set up small bitcoin and ethereum mining operations, just done in the spirit of learning. Even we at Fidelity can see that the evolution of technology is setting up our industry for disruption. What if this new technology could do for the transfer of value what the internet did for the transfer of information? Blockchain isn’t just a new way to settle transactions; it can fundamentally change market structure, or maybe even the architecture of the internet itself. When combined with things like the Internet of Things or the cloud, there’s no underestimating the potential that’s on the horizon.”
Fidelity seems to be yet another example of cryptocurrencies making their steady way into the market and we are confident there are many companies that will follow suit very soon.