The CEO of Fidelity Investments, Abigail Johnson, has came through with her promise regarding blockchain technology at a conference in NY in May, revealing the company’s support for cryptocurrency. Fidelity today implemented on its website the option to display holdings in Bitcoin, Litecoin and Ethereum.
This was done via a partnership with Coinbase, essentially integrating the digital wallet provider’s data. Starting today, US clients of the financial services giant can authorize the Coinbase integration, allowing their fund managers to view the details of their cryptocurrency holdings.
“I love this stuff – bitcoin, ethereum, blockchain technology – and what the future holds,” Johnson said back in May.
“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.”
This is yet another example of a major, established financial firm in the US adopting cryptocurrencies. Only recently CBOE revealed that it will be launching Bitcoin futures.