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Huge!! Fidelity has been slow to open up, going all in on retail now is a major grab for the crypto brokerage market next cycle. More significantly monetizing only the spread is a shot across the bow on CB/FTX retail pricing

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Frank Chaparro

@fintechfrank

Nov 3

Fidelity has opened up a waiting list for its new retail crypto offering: Fidelity Crypto Unclear when it will launch, but the firm says users won't be charged a commission, but rather a spread of 1% will be factored into every trade execution price.

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Dave Friedman (not parody)

@friedmandave

Nov 3

Replying to

@mayazi

They certainly have the asset base to amortize customer acquisition over, in a way that CB does not. FTX seems more focused on institutional than retail, so I'm not sure if they're a competitor.

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and

fwiw we're generally excited to be back-end infrastructure/etc. for things like this

3:02 PM · Nov 3, 2022Twitter Web App

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Dave Friedman (not parody)

Replying to

and

Seems like a great business for you guys.

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and

Execution, settlement, compliance, custody layer is the boring long game and the hidden scaffolding that the whole future of the asset class needs and will rest upon.

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