Fidelity Officially Launches Stablecoin 'FIDD'

Fidelity Investments, a major US asset management firm, has officially announced the launch of its first stablecoin, the 'Fidelity Digital Dollar (FIDD)'. FIDD is pegged 1:1 with the US dollar and is issued by the Fidelity Digital Assets National Association. Both individual and institutional investors can use FIDD, and customers can purchase or redeem FIDD for one dollar on various platforms such as Fidelity Digital Assets and Fidelity Crypto. FIDD is also available for purchase on major exchanges, and holders can transfer it to any Ethereum mainnet address.