Fidelity Investments, with an asset management scale of $5.9 trillion, announced on Wednesday that it will launch its first stablecoin — the “Fidelity Digital Dollar (FIDD)” — in the coming weeks. As U.S. regulations on stablecoins gradually take shape, this leading global asset management firm is officially entering the on-chain payment and settlement space.
According to a statement released by Fidelity, FIDD will be issued by Fidelity Digital Assets’ subsidiary, National Trust Bank, and will initially be open to both retail and institutional clients. The stablecoin will be issued on Ethereum and can be exchanged for USD at a 1:1 ratio through the Fidelity platform.
Fidelity will be responsible for the issuance and reserve management of the stablecoin, relying on its subsidiary, Fidelity Management & Research Company LLC, to handle reserve assets.
Clients will be able to buy or exchange FIDD at a price of $1 through Fidelity Digital Assets, Fidelity Crypto, and Fidelity Crypto for Wealth Managers. The stablecoin can also be transferred to any Ethereum wallet address and will be listed on mainstream cryptocurrency exchanges in the future.
Mike O’Reilly, President of Fidelity Digital Assets, stated, “Fidelity has always believed in the transformative power of the digital asset ecosystem and has dedicated years to researching and promoting the advantages of stablecoins.”
He added that the company believes stablecoins can provide on-chain practical functions supported by institutional-grade security for investors.
Fidelity began building digital asset infrastructure as early as 2014 and officially established Fidelity Digital Assets in 2019, becoming one of the first traditional financial giants to enter the space.
The debut of FIDD comes at a time when the global stablecoin market is rapidly expanding. According to statistics, the total supply of stablecoins worldwide has approached $300 billion, and U.S. regulatory frameworks are gradually taking shape. Fidelity specifically mentioned that the U.S. stablecoin regulation bill passed last year, the “GENIUS Act,” is a key factor in driving the implementation of FIDD.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
The altcoin market is experiencing a structural decline, with 38% of tokens approaching historical lows, as funds continue to flow into Bitcoin and Ethereum.
The current crypto market is showing clear divergence, with 38% of altcoins trading near historical lows and facing ongoing selling pressure. Liquidity is tightening, with market funds concentrating in Bitcoin and Ethereum. Some public chain projects remain active, but liquidity for many altcoins has decreased significantly, transaction costs have risen, and market vulnerability has increased. Additionally, enhanced European regulation could further accelerate market concentration, and the long-term disadvantages of fringe altcoins are becoming more apparent.
GateNews11m ago
Gate launches the new Gate Card, with cashback and level system fully upgraded
Gate officially launches Gate Card, offering up to 5% cashback on purchases, supporting multiple cryptocurrencies, and featuring a "dual-track upgrade" tier system with high spending limits, aimed at increasing user retention and the application of crypto assets in the real economy.
GateNews23m ago
Lamborghini dealerships in the United States now accept Ethereum payments, with ETH expanding luxury car consumption scenarios
Multiple Lamborghini dealerships in the United States have started accepting Ethereum as a payment method for purchasing cars, indicating that cryptocurrency payments are expanding into high-end offline consumption. Dealers process transactions through crypto payments to avoid price volatility risks, promoting the gradual integration of digital assets into the real economy. Despite differing opinions, an increasing number of brands are attempting to accept crypto payments, demonstrating that digital assets are establishing new payment scenarios in mainstream commerce.
GateNews24m ago
Ethereum validators queue reaches a record high, with large investors choosing to stake rather than sell
Currently, approximately 3.4 million ETH are waiting to join the Ethereum validator set, with a queue time of 60 days. The demand mainly comes from large enterprises and exchanges, which earn stable returns through staking. This trend indicates that institutional investors prefer long-term holdings, which is related to increased market confidence.
MarketWhisper1h ago
Middle East conflict impacts Asian stock markets, Bitcoin holds at $67,000, Ethereum and Solana come under pressure and retreat
Middle Eastern geopolitical tensions continue, and risk aversion in Asian financial markets intensifies, leading to significant declines in major stock indices. Bitcoin experiences a slight dip but remains within a key range, with market focus on institutional funding and ETF inflows. Mainstream cryptocurrencies like Ethereum and Solana pull back as risk appetite contracts. Uncertainty in the macro environment and volatility in the energy markets increase market pressure.
GateNews1h ago
Yesterday, US Bitcoin spot ETF saw a net inflow of $225 million, while Ethereum ETF experienced a net outflow of $10.8 million.
On March 4th, the US Bitcoin spot ETF saw a net inflow of $225.2 million, with BlackRock's IBIT experiencing the largest inflow and Fidelity's FBTC experiencing significant outflows; the Ethereum spot ETF had a net outflow of $10.8 million, with Fidelity's FETH experiencing the largest outflow.
GateNews1h ago
