Fidelity Investments, a Company that is considered one of the Largest asset management companies in the world has announced its entry into the cryptocurrency platform by incorporating the zero-fee trading mechanism for retail customers.
The company will be the third company in the US after RobinHood and Binance to incorporate this type of cryptocurrency platform for all of its retail customers in the cryptocurrency market.
What is Fidelity?
Fidelity is a Multinational financial services company which is having their headquarters in Boston, US. The company works in various sectors like the Financial Services offering company, Asset Management Company, broking firm, Mutual Fund company, wealth management company, and index fund companies. As per the records of December 2021, Consolidating all the operations the company has a total of $11.8 trillion of assets under management.
The company is also considered as largest Asset Management Company in the globe. The company started its operations as a management and Research Organisation in 1946. Considering the hype of cryptocurrency in the 21st century. The company in the April of this year announced that will work on investment options in cryptocurrency investments options like bitcoins.
In the process of those announcements, the company has now announced the cryptocurrency trading wallet and the zero-free trading platform for all of its retail investors.
What is zero-fee trading?
Usually On any type of investment options like shares or bonds or future trades. The organization which is offering these investment options through their platforms changes some fees for each trade done by the traders.
This is not the case in zero-fee trading which means there will not be any brokerage or platform fees on all the individual orders placed by the retail traders. zero-fee trading is considered a profitable mechanism for retail customers.
What Goldman Sachs is doing to standardize the crypto market?
Golden Sachs which is considered one of the major investment banks in all these three Crypto Currency exchange platforms is working on the standardization of the crypto market. Goldman Sachs will be working on this process with help of a data service center which will be developed by the global index service provider organization MPCI Along with the data provider company Coin Metrics.
The integrated work of these two companies will be able to showcase the Systematic categorization of hundred of digital coins and tokens. This will help the investor to systematically understand the asset class of these Investments.
Goldman Sachs wants to achieve the mechanism in which the company will be able to systematically discuss investments and monitor these digital investments for the company and other investors.