Fidelity is Developing its Own Stablecoin: FT
The massive investment firm is likely planning its use within an Ethereum-based tokenized money market fund.
Fidelity Investments is reportedly developing its own stablecoin for use in tokenized money market funds on Ethereum, The Financial Times reports.
What’s the Scoop?
- Advanced Testing: Fidelity is reportedly in advanced testing of a stablecoin tied to its blockchain-based Treasury Digital Fund, offering dollar and Treasury exposure.
- Tokenized Money Market Funds: The move is part of Fidelity's broader push into tokenized funds, leveraging
Ethereum for blockchain integration. - Industry Dynamics: Fidelity’s stablecoin offering will compete with major players like
Tether and 
Circle amid evolving U.S. regulatory efforts on stablecoins.
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