Fidelity Digital Dollar

Fidelity, one of the world's largest asset managers, stepped directly into stablecoins with FIDD, announced in early 2026. Fidelity issues it through Fidelity Digital Assets, National Association, a national trust bank that won conditional approval from the US Office of the Comptroller of the Currency, and structures it as a payment stablecoin under the GENIUS Act that Congress passed in 2025. Reserves are held in cash, cash equivalents and short-term US Treasuries managed in-house, and Fidelity publishes the circulating supply and reserve value at the close of every business day, a tighter cadence than the monthly attestations rivals offer. Customers can buy and redeem it for one dollar across Fidelity's own platforms as well as exchanges including Kraken and Bullish. FIDD represents a bet that regulated, bank-issued dollars from incumbent finance will define the next phase of the market.