Fidelity Unveils FIDD Stablecoin for Institutional Payments and Settlement

Fidelity Digital Assets has expanded its institutional offerings with the launch of FIDD (Fidelity Digital Dollar), an Ethereum-based stablecoin pegged to the US dollar. The token is designed for payments, settlement, and tokenized markets.

The stablecoin is issued by Fidelity Digital Assets and is backed by cash, short-term Treasuries, and liquid assets held at Bank of New York Mellon. The reserve reports are independently examined by PricewaterhouseCoopers under AICPA standards.

FIDD operates as an ERC-20 token on Ethereum and can be transferred to eligible addresses, although network gas fees apply. Eligible customers can buy or sell FIDD through Fidelity platforms, Kraken, and Bullish.