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Techub News reports that Fidelity will launch the stablecoin FIDD on Ethereum in early February. FIDD will be issued by Fidelity Digital Assets, backed by cash, cash equivalents, and short-term U.S. Treasury reserves managed by Fidelity, and compliant with the standards for payment stablecoins under the GENIUS Act. The target use cases for this stablecoin include 24/7 institutional settlement and on-chain retail payments. Fidelity stated that in the future, they may explore expanding this stablecoin to other blockchains or layer-two networks.