Mars Finance reports that Fidelity Investments has announced the official launch of its USD-pegged stablecoin, Fidelity Digital Dollar (FIDD), available to retail and institutional investors. Investors can directly purchase or redeem FIDD for $1 through the Fidelity Digital Assets, Fidelity Crypto, and Wealth Manager platforms. FIDD is issued on the Ethereum blockchain and will also be listed and traded on external exchanges, with transfers possible to any Ethereum mainnet address. The backing assets are managed by Fidelity Management & Research. Fidelity stated that the launch of FIDD benefits from the increasing clarity of US stablecoin regulations, including the GENIUS Act passed last summer, which provides a federal regulatory framework for stablecoins and reduces legal uncertainty for traditional financial institutions issuing them.
Fidelity's USD stablecoin FIDD is now available for retail and institutional investors.
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