Crypto
Fidelity Issues First Stablecoin FIDD on Ethereum Blockchain
Fidelity Digital Assets has issued its first stablecoin, Fidelity Digital Dollar (FIDD), on the Ethereum blockchain. This marks a significant expansion into on-chain financial services for the company.
The Fidelity Digital Dollar is pegged to the US dollar and allows users to hold a digital equivalent of their cash in a secure manner.
Fidelity serves over 50 million investors, oversees $17.9 trillion in assets under administration, and processes an average of 5.5 million trades per day.