Investment giant Fidelity Investments is set to unveil its own stablecoin in the coming weeks. The token is named the Fidelity Digital Dollar, or FIDD. Issuance will be handled by Fidelity Digital Assets, National Association, a division that secured US regulatory approval in December to establish a national trust bank.
Speaking to Bloomberg, Fidelity Digital Assets President Mike O’Reilly noted that stablecoins could serve as a foundation for payment services. The key advantages lie in real-time settlements and 24/7 availability — capabilities the traditional banking system cannot match.
The company has not yet disclosed technical implementation details. However, the FIDD architecture is expected to strictly align with the GENIUS Act framework. This law dictates federal standards for payment stablecoins, requiring full reserve backing and mandating rigid user protection mechanisms.
Fidelity continues its aggressive expansion into the crypto industry while managing nearly $6T in traditional assets. The company previously launched a successful spot Bitcoin ETF. Currently, the Fidelity Wise Origin Bitcoin Fund has accumulated $17.4B in assets.
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