Fidelity to Enter Stablecoin Market With Ethereum-Based 'Digital Dollar'
Summary
Fidelity Investments plans to launch its own U.S. dollar-pegged stablecoin, called the Fidelity Digital Dollar (FIDD), expanding its digital asset offerings. The stablecoin will be available to both retail and institutional investors in the coming weeks and will operate on the Ethereum blockchain. Issuance and management of FIDD will be handled by Fidelity Digital Assets, Fidelity's crypto-focused subsidiary. Fidelity aims to provide investors with on-chain utility through this digital dollar product.
