Fidelity launches stablecoin FIDD with a 1:1 exchange rate to USD

Fidelity Investments has officially launched the stablecoin FIDD, pegged 1:1 to USD and issued on the Ethereum network. Both individual and institutional investors can access it directly through Fidelity’s platforms, including Fidelity Digital Assets, Fidelity Crypto, and Fidelity Crypto for Wealth Managers. Users can buy, exchange, or transfer FIDD to any Ethereum wallet.

The issuance is led by Fidelity Digital Assets, while the reserve is managed by Fidelity’s currency markets team — a unit managing hundreds of billions of dollars in assets. The company commits to transparency by publishing the circulating supply and reserve value every business day.

FIDD is now listed on Kraken and trading on Uniswap, with an initial market cap of approximately $60 million. This move comes after the GENIUS Act established a clear legal framework for stablecoins in the U.S.

At the same time, Fidelity also operates a tokenized Treasury fund worth $203 million, demonstrating the asset-on-chain strategy of this $17.5 trillion asset manager.