TL;DR
- Fidelity launches its first stablecoin, FIDD, backed 1:1 by the U.S. dollar and issued by Fidelity Digital Assets.
- The stablecoin combines dollar stability with on-chain utility and Fidelity’s institutional-grade security.
- It’s available on Fidelity’s crypto platforms and major exchanges, transferable on the Ethereum network.
Fidelity Investments announced the launch of its first stablecoin, Fidelity Digital Dollar (FIDD)—issued by Fidelity Digital Assets, National Association—now available for retail and institutional investors.
“At Fidelity, we have a long-standing belief in the transformative power of the digital assets ecosystem and have spent years researching and advocating for the benefits of stablecoins,” said Mike O’Reilly, President of Fidelity Digital Assets. “As a leading asset manager and digital assets pioneer, Fidelity is uniquely positioned to provide investors with onchain utility via a digital dollar.”
FIDD seeks to provide investors with a stable digital dollar that combines the benefits of digital assets and blockchain technology with the stability and reliability of the U.S. dollar. FIDD is backed by the stringent operational standards of Fidelity Digital Assets, which delivers institutional-grade security and is built upon more than a decade of research and development in the digital assets space.
FIDD’s key functions are supported by Fidelity Investments businesses, offering investors a full-service stablecoin model, including reserve asset management conducted by Fidelity Management & Research Company LLC, leveraging Fidelity’s longstanding asset management expertise.
Purchase and Redemption Options on Fidelity Platforms
Purchase and redemption options permit customers to buy or sell FIDD for $1 on the Fidelity Digital Assets, Fidelity Crypto, and Fidelity Crypto for Wealth Managers platforms. FIDD is also available for purchase on major exchanges where FIDD is listed, and holders may transfer FIDD to any Ethereum mainnet address.
Coin issuance, including FIDD’s circulating supply and reserve net asset value, is disclosed as of the close of every business day on www.fidelity.com.
With the current stablecoin market cap at more than $316 billion and a U.S. regulatory framework now in place, Fidelity is one of the first traditional financial institutions to issue its own digital dollar.
“The recent passage of the GENIUS Act was a milestone for the industry in providing clear regulatory guardrails for payment stablecoins,” continued O’Reilly. “We’re thrilled to launch a fiat-backed stablecoin at a time of increasing regulatory clarity to better support our customers’ needs, provide choice in the marketplace, and enable continued progress toward a more efficient financial system.”
Fidelity has been working since 2014 to develop a digital assets ecosystem with infrastructure, products, and services comparable to the solutions it provides for traditional asset classes, including research, trading, custody, and investment products.
