TechFlow News, on March 26, according to the Financial Times citing sources, asset management giant Fidelity Investments is advancing the issuance of its own stablecoin as part of its digital asset strategy. The stablecoin will be managed by its digital asset division and is currently in the late stages of testing.

Late last week, Fidelity had applied to launch a digital version of its U.S. money market fund by the end of May, which will directly compete with traditional asset management industry rivals BlackRock and Franklin Templeton.