Fidelity is launching its own stablecoin

Fidelity is launching a stablecoin that investors volition beryllium capable to bargain and merchantability for $1 erstwhile it arrives successful the "coming weeks." The stablecoin, called Fidelity Digital Dollar (FIDD), volition unrecorded connected the Ethereum web and is backed by currency reserves, currency equivalents, and short-term US Treasuries, according to CoinDesk.

A stablecoin is simply a benignant of cryptocurrency that's typically pegged to an asset, similar the US dollar. More companies and fiscal institutions person started launching stablecoins of their ain aft President Donald Trump signed the GENIUS Act past July, which lays retired a model for the integer currency. In summation to introducing a …

Read the afloat communicative astatine The Verge.