The staff will be used to develop new products and expand into crypto other than bitcoin.
Before Fidelity, Mrinalini Bhutoria served as senior research analyst at Circle and spent three years at Credit Suisse.
The custodian began offering cash loans collateralized by bitcoin last December but is now adding Silvergate customers to the mix.
Fidelity Digital Assets is reportedly partnering with crypto lender BlockFi for the new business angle.
Many investors aspire to hold bitcoin as a store of value, but right now the cryptocurrency is very volatile, said the head of Fidelity Digital Assets.
Fidelity Digital Assets has responded to some of bitcoin's most frequent criticisms citing heightened interest in the cryptocurrency.
Fidelity said it wants to improve bitcoin custody and executive services and build products to "support the ecosystem."
The cryptocurrency-focused arm of financial services giant Fidelity Investments is expanding its custody service through Singapore-based Stack Funds.
"In a world where benchmark interest rates globally are near, at, or below zero, the opportunity cost of not allocating to bitcoin is higher," the report said.
The Travel Rule Protocol working group has published the first version of its TRP API.
ING Bank, Standard Chartered and others have developed a protocol to handle a new rule for crypto exchanges and firms dealing in digital assets.
More than 85 U.S. institutions bought crypto futures last year, more than double the number touching the space in 2018, according to a new survey by Fidelity.
Fidelity Digital Assets envisions a future where custodians work behind the scenes to store cryptocurrency for other firms’ clients, an exec said.
The crypto-focused branch of the major asset manager is looking to grow its team with the addition of 10 new roles across blockchain and trading.
Financial services giant Fidelity hired Chris Tyrer, former head of Barclays' digital assets project.