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Fidelity unveils FIDD stablecoin, set to launch in coming weeks
Fidelity Investments announced that it will launch its first stablecoin, the Fidelity Digital Dollar (FIDD), making it one of the first large traditional firms in the US to do so. The company will leverage the Ethereum blockchain to roll out the product to retail and institutional investors in the coming weeks, according to a press release on Wednesday. Fidelity's subsidiary, Fidelity Digital Assets, a federally chartered national bank, will handle FIDD's issuance, while its asset management arm will oversee the token's reserve. The firm said customers will be able to access the token on major crypto exchanges and ... (full story)
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