Fidelity Investments announced the launch of its own stablecoin pegged to the U.S. dollar, designed for both retail and institutional investors.
U.S. holding company Fidelity revealed plans to soon launch its dollar-backed stablecoin, Fidelity Digital Dollar (FIDD), on Ethereum. The asset will be issued by Fidelity Digital Assets, National Association, and will become available to clients in the coming weeks.
Reserve management will be handled by Fidelity Management & Research Company LLC. The purchase and redemption of FIDD will be available through the Fidelity Digital Assets, Fidelity Crypto, and Fidelity Crypto for Wealth Managers platforms. Coin issuance, circulating supply, and the net value of reserves will be disclosed daily at the end of each business day.
According to Mike O’Reilly, President of Fidelity Digital Assets, FIDD is positioned as a digital dollar with on-chain functionality, combining blockchain infrastructure with the reliability of traditional asset management. He also noted that the company plans to list the stablecoin on major crypto exchanges.
Fidelity has been working with digital assets since 2014, and its Fidelity Digital Assets division was founded in 2018. As of the end of September 2025, Fidelity managed assets worth $17.5 trillion.
The launch of FIDD comes amid the development of a regulatory framework for payment stablecoins in the United States. In particular, the adoption of the GENIUS Act established clear regulatory guidelines for issuing fiat-backed digital currencies. Recently, Tether introduced the USAT stablecoin to the U.S. market, created specifically to operate within the framework of U.S. federal legislation.
