
Fidelity Investments starts its own stablecoin in a massive bet that future of banking is on blockchain
Fidelity Investments is launching its first stablecoin, the Fidelity Digital Dollar (FIDD), in early February, marking a major move by one of the largest traditional financial institutions into onchain finance. FIDD will be issued by Fidelity Digital Assets, a federally chartered national bank and subsidiary of Fidelity. The Ethereum-based stablecoin will be redeemable for $1 on Fidelity’s crypto trading platforms — Fidelity Digital Assets, Fidelity Crypto, and Fidelity Crypto for Wealth Managers — and will also be made available on major crypto exchanges, according to a press release. The company says it designed the product to meet growing client demand…








