Fidelity Investments is preparing to roll out its own U.S. dollar-pegged stablecoin, marking a significant step forward in the asset manager’s ongoing expansion into digital assets.
What Happened: The Boston-based firm is finalizing tests for the token through its dedicated digital assets division, Financial Times reported.
The forthcoming stablecoin is designed to function as digital cash in crypto markets, aligning with Fidelity’s broader strategy of capitalizing on blockchain-based innovations.
The move follows its recent filing to issue a tokenized version of a money market fund — a product set to launch in late May — in direct competition with similar offerings from BlackRock and Franklin Templeton.
Fidelity’s announcement arrives as U.S. policymakers, under President Donald Trump‘s administration, shift toward more crypto-supportive policies.
Trump has openly backed the development of “lawful …
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