For one full year, Fidelity Investments worked on unveiling its crypto custody services, and now that the services were launched, the investment firm finalized the launch of the new platform by bringing on board Michael Zinaman.
Mr. Michael Zinaman is the most recent expert joining the Fidelity Investment team, but he will focus on the firm’s crypto-related business. As an expert from the crypto space, Michael Zinaman is coming to Fidelity as a product specialist. However, he will also be responsible for drafting strategies for Fidelity when it comes to execution, custody, and cryptocurrency-related services.
Zinaman is coming To Fidelity with a Wealth of Experience
Before coming to Fidelity Investment, per his LinkedIn profile, Zinaman held two senior positions at two different firms Canaccord Genuity and Imperial Capital. The latter is a full-service investment banking firm, and it’s where Zinaman worked as the Senior Vice President. On the other hand, at Canaccord Genuity, a blockchain and digital assets firm, Zinaman worked as the Managing Director. The above makes him the best to head the product department.
Despite venturing off into the crypto sector, Fidelity has held back on offering its newly launched services to its retail clients. A few days before the launch Kathleen Murphy Fidelity Personal Investing President said;
“You know, as a financial service firm, we are exercising caution when it comes to making cryptocurrencies available to our retail clients. Although we have embraced it, we are still trying to understand it as we toy around with the idea of creating new innovative, and thoughtful services. However, at the same time, we’re cautious about can access these new services. So at the moment, the newly launched crypto services aren’t available on the retail platform. We want to make sure investors who dive in the crypto space understand the market and aren’t making a mistake.”
Although it is now that news of the new hire is reaching the public domain, per an unnamed source, Michael Zinaman joined Fidelity Investment firm a month ago. With him already settled in, his actions point to a man who is ready to stir Fidelity into the innovative waters of the crypto sector by coming up with strategies that will make Fidelity lead other firms in the industry.