Fidelity set to debut FIDD stablecoin on Ethereum next month
Fidelity Investments plans to launch its fully-backed stablecoin, FIDD, on Ethereum in early February.Summary
Fidelity Investments is preparing to launch its first stablecoin, the Fidelity Digital Dollar (FIDD), on the Ethereum network in early February. The token will be fully backed by reserves and accessible to both institutional and retail clients via Fidelity platforms and major crypto exchanges. This launch follows the passage of the GENIUS Act, which provided necessary regulatory clarity. The move is expected to expand Fidelity's blockchain offerings, potentially including tokenized money-market funds, but it places Fidelity in direct competition with established stablecoin issuers like Circle (USDC) and Tether (USDT). Fidelity has been involved in blockchain technology since 2014, offering services like crypto custody.
(Source：Crypto Briefing)