Fidelity stablecoin FIDD goes live as Wall Street moves deeper onchain

Fidelity Investments has launched its first stablecoin, the Fidelity Digital Dollar (FIDD), through Fidelity Digital Assets, making it available to both retail and institutional investors. This move positions FIDD as a regulated alternative in the $316 billion stablecoin market, aiming to merge blockchain utility with US dollar stability. Mike O’Reilly, president of Fidelity Digital Assets, stated that stablecoins are a foundational component of the digital assets ecosystem, and Fidelity is positioned to offer a digital dollar backed by institutional infrastructure. FIDD is fully backed by cash, US Treasuries, and highly liquid assets held at Bank of New York Mellon, and is redeemable one-to-one for USD across Fidelity’s platforms, operating on the Ethereum mainnet. The launch was facilitated by the recent passage of the GENIUS Act, which provided clear regulatory guardrails for payment stablecoins.

(Source：Crypto Briefing)