Fidelity Investments, one of the leading asset managers, is exploring launching its own stablecoin. The asset giant is notably testing its stablecoin in a push to enter the crypto stablecoin realm, which is currently a leading agenda under Trump’s leadership and reign.
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Fidelity to Launch Its Own Stablecoin
The Trump regime is particularly sensitive toward the stablecoin agenda. In a recent crypto push, the 47th US president has shown his active leaning toward the crypto domain, especially the stablecoin market. In this wake, Fidelity Investments seems to be actively exploring stablecoin development in a new ordeal to bank off the recent wave of change.
JUST IN: $6 trillion asset manager Fidelity to launch crypto stablecoin.
— Watcher.Guru (@WatcherGuru) March 26, 2025
The leading asset manager is reportedly in the early stages of testing its own token and is planning to unveil it soon. This token will reportedly act as cash in the mainstream crypto market and will be designed exclusively by the firm’s digital asset team.
Fidelity Investments has slowly been showing interest in the digital domain. Last week, the firm was noted for filing for a digital US market fund, which surprised the market.
With this development, Fidelity will be joining the growing queue of the stablecoin domain competitors, including Ripple’s RLUSD and Tether USDT.
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Trump’s Leaning Towards Stablecoins
President Donald Trump has lately been actively vouching for the cryptocurrency domain. In one of the recent interviews, the US Treasury Secretary, Scott Bessant, issued a noteworthy statement concerning stablecoins. He stated how the US dollar will continue to dominate the world, with the government making use of stablecoins to perform the aforementioned task.
“We are going to keep the U.S. the dominant reserve currency in the world, and we will use stable coins to do that.”
Bessent: We are going to keep the U.S. the dominant reserve currency in the world and we will use stable coins to do that. pic.twitter.com/MJPLRa6TJp
— Acyn (@Acyn) March 7, 2025
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