Fidelity Enters Stablecoin Market with Own USD-Backed Token

Fidelity Investments has entered the stablecoin market with its own USD-backed token, Fidelity Digital Dollar (ticker: FIDD), offering a flat price of $1 per token to both retail and institutional clients.

The token went live on February 4, 2026, following an announcement by Fidelity on January 28. The stablecoin is issued by Fidelity Digital Assets, National Association, a federally chartered trust bank, which operates under direct federal oversight.

FIDD runs on the Ethereum mainnet and allows holders to transfer tokens to any Ethereum wallet address. The reserves backing FIDD are composed of cash, short-term US Treasuries, and related assets managed by Fidelity Management and Research Company LLC, with BNY Mellon serving as custodian.