Fidelity Investments has officially launched its dollar-anchored stablecoin, FIDD, available for both retail and institutional investors. Users can purchase or redeem FIDD directly through multiple platforms, including Fidelity Digital Assets, Fidelity Crypto, and Wealth Manager.
The Ethereum-Based FIDD Stablecoin
Issued on the Ethereum blockchain, the FIDD stablecoin offers added flexibility as it can be traded on external exchanges and transferred to any Ethereum mainnet address.
Regulatory Clarity Fuels Stablecoin Growth
Fidelity highlighted that the launch of FIDD was made possible by the increasingly clear regulatory environment in the US. The recent GENIUS Act, passed last summer, established a federal regulatory framework for stablecoins, reducing legal uncertainties for traditional financial institutions entering the space.