ChainCatcher Message, Fidelity Investments announces the official launch of the USD-pegged stablecoin Fidelity Digital Dollar (FIDD), available for retail and institutional investors. Investors can buy or redeem directly at $1 through Fidelity Digital Assets, Fidelity Crypto, and Wealth Manager platforms.
FIDD is issued on Ethereum and will also be listed on external exchanges, with the ability to transfer to any Ethereum mainnet address. The backing assets are managed by Fidelity Management & Research. Fidelity states that the launch of FIDD benefits from the gradual clarification of stablecoin regulation in the United States, including the GENIUS Act passed last summer, which provides a federal regulatory framework for stablecoins and reduces legal uncertainties for traditional financial institutions issuing such assets.
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