Ethereum: Fidelity Stablecoin FIDD Launches Onchain

Fidelity Launches Stablecoin FIDD for Onchain Payments

• Fidelity Investments has introduced its first stablecoin, Fidelity Digital Dollar (FIDD), now available to retail and institutional investors.
• The stablecoin is backed by cash, US Treasuries, and other liquid assets held at Bank of New York Mellon.
• Transfers are supported on the Ethereum mainnet, with a one-to-one redemption for US dollars.
• The total stablecoin market is valued at over $316 billion, with FIDD positioned as a regulated alternative.
• Fidelity’s infrastructure includes custody, trading, research, and investment products since 2014.

Fidelity Investments has expanded into the digital asset space by launching the Fidelity Digital Dollar (FIDD), a new stablecoin supported on the Ethereum mainnet. The stablecoin is fully backed by cash and other liquid assets.