Fidelity Investments will expand its digital asset offerings with plans to launch its own U.S. dollar-pegged stablecoin, the Fidelity Digital Dollar (FIDD), the firm said in a press release.
The new token will be available to retail and institutional investors “in the coming weeks” and run on the Ethereum blockchain.
The stablecoin will be issued through Fidelity Digital Assets, the firm’s crypto-focused subsidiary.
“As a leading asset manager and a digital assets pioneer, Fidelity is uniquely positioned to provide investors with on-chain utility via a digital dollar," said Mike O’Reilly, President of Fidelity Digital Assets.
_Editor’s note: This is a developing story and will be updated. _
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
Aave Proposes 25,000 ETH to DeFi United for Kelp DAO Relief
Aave service providers put forth a governance proposal on Friday that would contribute 25,000 ETH worth nearly $58 million from the protocol's DAO to DeFi United, a coordinated relief effort to restore backing for rsETH following the Kelp DAO exploit, according to The Block.
The proposed contributi
CryptoFrontier2h ago
ETH Liquidation Cascade: $841M Long Positions at Risk Below $2,243, $395M Shorts Exposed Above $2,461
Gate News message, April 26 — According to Coinglass data, if Ethereum (ETH) falls below $2,243, cumulative long liquidations on major CEXs would reach $841 million.
Conversely, if ETH breaks above $2,461, cumulative short liquidations on major CEXs would total $395 million.
GateNews3h ago
Aave, Kelp, LayerZero Seek $71M Frozen ETH Release on Arbitrum
A coalition of major DeFi protocols including Aave Labs, Kelp DAO, LayerZero, EtherFi, and Compound filed a Constitutional AIP on the Arbitrum forum Saturday requesting the network's DAO release approximately $71 million in frozen ETH for the rsETH recovery effort known as DeFi United. The Arbitrum
CryptoFrontier4h ago
Aave, Kelp, LayerZero Propose Releasing $71M in Frozen ETH to Support rsETH Recovery
Gate News message, April 26 — A coalition of major DeFi protocols led by Aave Labs, joined by Kelp DAO, LayerZero, EtherFi, and Compound, filed a Constitutional AIP on Saturday morning asking the Arbitrum DAO to release approximately $71 million in frozen ETH to support DeFi United, a cross-protocol
GateNews7h ago
Ethereum Foundation Sells 10K ETH To Bitmine OTC Deal
Ethereum Foundation sells 10K ETH through OTC to fund research, development, and ecosystem grants under treasury strategy.
Bitmine expands holdings through direct deals, nearing target to control about 5% of Ethereum total supply.
OTC transactions enable large crypto transfers with
CryptoFrontNews10h ago
ETH Liquidation Cascade: $635M Long Positions at Risk Below $2,217, $504M Shorts Exposed Above $2,430
Gate News message, April 26 — According to Coinglass data, if Ethereum falls below $2,217, cumulative long liquidations across major CEX platforms would reach $635 million. Conversely, if ETH surges above $2,430, cumulative short liquidations would total $504 million.
GateNews11h ago
