Fidelity to Launch Ethereum-Based Stablecoin FIDD for U.S. Financial Institutions

TLDR Fidelity will launch its first stablecoin, Fidelity Digital Dollar (FIDD), on the Ethereum blockchain in February. FIDD will be redeemable for $1 on Fidelity’s crypto platforms and major exchanges, focusing on low-cost payments. The stablecoin will support 24/7 settlement for institutional traders and on-chain payments for retail users. FIDD’s reserves will consist of cash, [...]

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