Fidelity Digital Assets (FDAS) is reportedly gearing up for the imminent launch of its own dollar-backed stablecoin, dubbed FIDD, expected to roll out on the Ethereum network within the coming weeks. This strategic move positions one of the world’s largest asset managers directly into the highly competitive stablecoin ecosystem.
FIDD is designed primarily to cater to Fidelity’s existing institutional client base, offering a highly regulated and reliable instrument for real-time settlement, trading, and collateral management in the digital asset space. Sources indicate that FIDD will maintain a strict 1:1 peg to the US dollar, with reserves held in segregated, highly liquid assets, subject to quarterly attestations by a major accounting firm.
While existing stablecoins like USDC and USDT dominate the market, Fidelity’s entrance, leveraging its extensive brand trust and regulatory relationships, is viewed by analysts as a significant step toward integrating mainstream finance with decentralized infrastructure. The initial launch phase is expected to focus on onboarding established institutional trading desks and custodial partners before expanding accessibility to broader retail markets later in the year.
Source: Fidelity to launch dollar-backed stablecoin FIDD on Ethereum in coming weeks
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