
Apart from Fidelity, another investment management company Blackrock also lowered its estimates for Ant in 2022.
Fidelity is a privately owned investment manager.
Fidelity Investments Inc., commonly referred to as Fidelity, earlier as Fidelity Management & Research or FMR, is an American multinational financial services corporation based in Boston, Massachusetts.
It is one of the largest asset managers in the world with $2.46 trillion in assets under management as of March 2018 and a combined total customer asset value number of $6.7 trillion. Fidelity Investments operates a brokerage firm, manages a large family of mutual funds, provides fund distribution and investment advice, retirement services, wealth management, securities execution and clearance, and life insurance.
Apart from Fidelity, another investment management company Blackrock also lowered its estimates for Ant in 2022.
The financial details of the deal remain undisclosed but come off as the first acquisition Fidelity Investments has made in about 7 years.
Investing in the digital currency ecosystem has been considered a major gamble by most multinationals.