Fidelity's USD Stablecoin FIDD is Now Live, Available for Retail and Institutional Investors

Odaily News Fidelity Investments announced the official launch of the USD-pegged stablecoin Fidelity Digital Dollar (FIDD), now available for retail and institutional investors. Investors can directly purchase or redeem FIDD for 1 USD through the Fidelity Digital Assets, Fidelity Crypto, and Wealth Manager platforms. FIDD is issued on the Ethereum blockchain and will also be listed on external exchanges, with the capability to be transferred to any Ethereum mainnet address. The backing assets are managed by Fidelity Management & Research. Fidelity stated that the launch of FIDD benefits from the gradual clarification of stablecoin regulations in the United States, including the GENIUS Act passed last summer, which provides a federal regulatory framework for stablecoins, reducing the legal uncertainties for traditional financial institutions to issue them. (The Block)