Fidelity Reaffirms Commitment to Ethereum-Based Stablecoin FIDD

Fidelity Digital Assets has renewed its push for the Fidelity Digital Dollar (FIDD) on Ethereum, positioning it as a stablecoin for payments, settlement, and tokenized markets.

The Ethereum-based stablecoin is pegged one-to-one to the US dollar and can be redeemed for $1. Fidelity's reserves include cash, short-term Treasuries, and liquid assets held at Bank of New York Mellon.

Fidelity discloses the circulating supply daily, while PwC independently examines monthly reserve reports under AICPA standards. Eligible clients can trade FIDD through Fidelity platforms, as well as external exchanges like Kraken and Bullish.