Overview
- FIDD will be redeemable 1:1 for $1 on Fidelity’s crypto platforms and is slated to appear on major exchanges in the coming weeks.
- The token will be issued by Fidelity Digital Assets, National Association, which holds conditional OCC approval requiring additional regulatory steps before full rollout.
- Reserves will consist of cash, cash equivalents, and short‑term U.S. Treasuries managed by Fidelity Management & Research, with third‑party attestations and daily reporting.
- Launching on Ethereum, FIDD will support 24/7 settlement and payments for institutional and retail clients and can be transferred to any Ethereum mainnet address.
- Fidelity’s entry intensifies competition with Circle and Tether, which introduced a U.S.-compliant USA₮ this week, in a stablecoin market exceeding $300 billion.