Financial giant Fidelity executives: In order to protect investors, we have not yet provided cryptocurrency trading services on retail trading platforms.

Kathleen Murphy, president of personal investment at Fidelity Investments, a US financial services company, said the company did not offer cryptocurrency trading services on retail trading platforms because it wanted to protect its customers.


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Murphy expressed this view in an interview with CNBC on October 11. After the interviewer asked her when she expected the user to be able to trade the cryptocurrency "in a meaningful way" on the Fidelity platform, Murphy replied:

“You know, we are very cautious about this. Therefore, although we accepted cryptocurrencies when trying to understand cryptocurrencies and innovating and thoughtful considerations, we are also very cautious in providing such products, so there is no retail platform. They are widely available. We need to be very careful to ensure that investors who are not genuine institutional investors do not make mistakes about cryptocurrency."

Fidelity manages a total of $7.4 trillion in client assets and launched Bitcoin (BTC) transactions for institutional clients in May. Recently, the Fidelity Application Technology Center was discovered to be an early customer of the bitcoin mining service announced by blockchain technology company Blockstream in August. As reported on October 9, Rayhaneh Sharif-Askary, director of sales and business development at Grayscale, a cryptocurrency asset management giant, said institutional investors will continue to flood into this area in 2019.