Fidelity US Dollar Stablecoin FIDD is now live and available for retail and institutional investors

Fidelity Investments announced that the dollar-pegged stablecoin Fidelity Digital Dollar (FIDD) is officially launched, available for both retail and institutional investors. Investors can directly buy or redeem it for 1 dollar through the Fidelity Digital Assets, Fidelity Crypto, and Wealth Manager platforms.

FIDD is issued on the Ethereum blockchain and will also be listed on external exchanges, allowing transfers to any Ethereum mainnet address. The backing assets are managed by Fidelity Management & Research. Fidelity stated that the launch of FIDD benefits from the gradually clarified regulatory framework for stablecoins in the U.S., including the GENIUS Act passed last summer, which provides a federal regulatory framework for stablecoins and reduces legal uncertainties for traditional financial institutions issuing them.