Fidelity’s stablecoin FIDD goes live for retail and institutional investors

Fidelity Investments has launched its U.S. dollar-backed stablecoin, Fidelity Digital Dollar (FIDD), making it available to retail and institutional investors. Issued by Fidelity Digital Assets, National Association, on Ethereum, FIDD can be purchased or redeemed directly with Fidelity for $1 across its digital asset platforms and will also trade on external exchanges. Reserve assets backing FIDD are managed by Fidelity Management & Research. This launch follows the passage of the GENIUS Act, which established a federal framework for stablecoins, reducing regulatory uncertainty. Mike O'Reilly, president of Fidelity Digital Assets, noted the Act provided clear regulatory guardrails. This move signifies Fidelity's expansion into issuing onchain financial instruments, competing in a market where stablecoins are increasingly positioned as faster alternatives to traditional payment rails.

(Source：The Block)