Fidelity International, a subsidiary of the Boston-based Fidelity Investments that is set in London, has been reported by Forbes to have created an in-house crypto brokerage game. The game is only being used informally by employees and it does not represent an upcoming product.
According to Forbes, the name of the game is The Fidelity Cryptoleague and its goal is the simulation of a trading game in which employees of the company can trade cryptos to see who fares better.
While not an actual product, this initiative certainly seems to be an indicator that there is interest in the crypto market stemming from the company. Because of this, some people could take this game as an indication that the possibility of the company creating crypto products soon is not null.
Obviously, it is not hard to find companies interested in the blockchain now. Most financial companies are, in one way or the other, interested in the blockchain technology and what it is able to do.
This new Cryptoleague game seems like a fun way for the employees to actually sort of participate in the market without having to actually commit to it. It is basically dipping their toes in the crypto ocean, it seems. 1,200 people from the staff of over 8,000 are currently playing the game.
Each player is said to start with $10,000 GBP of virtual money. They have to create their portfolios then and to decide the best way to create a killer portfolio.
A corporate communications associate director at the company called Craig Terrington was interviewed by Forbes. He affirmed that Fidelity International also sees a lot of importance in the blockchain world just as most people are doing now. To him, there are no solid plans for launching crypto products, but the personal interest in the crypto world is undeniable.
He affirmed that the Fidelity Cryptoleague is a simulation game in which people can have fun and learn more about trading crypto tokens. The major winners may even get real-life prizes, so they have an extra incentive to play as well as they can.
Anne Richards, the CEO of Fidelity, has also talked about the game. She affirmed that it was being used to teach people about the technology internally, which is something that is important because the blockchain technology has clearly become an important part of the financial system.
However, she also affirmed that no tangible product is being created using the technology or focusing on crypto trading at the moment. Taken that there is interest enough for this game to exist, we will probably not take a lot of time in order to see something involving this industry from Fidelity International.
Fidelity Investments Is Already Interested In Crypto
Fidelity Investments, the main branch of Fidelity, is considerably more interested in crypto. The company has plans to open up a product that will involve the technology and it has worked to create Fidelity Digital Assets, which is focused on this kind of asset.
It is also reported that Fidelity will be a part of the Libra Association. Libra is the stablecoin that is being created by Facebook and it is set to be one of the largest crypto offerings launched until today.