Fidelity renews push for its Ethereum-based stablecoin FIDD as a payment and settlement tool.

Fidelity Digital Assets reaffirmed its commitment to the Fidelity Digital Dollar (FIDD), an Ethereum-based stablecoin pegged 1:1 to the U.S. dollar, designed for payments, settlement, and tokenized markets. FIDD is backed by cash, short-term Treasuries, and liquid assets held at Bank of New York Mellon, with daily supply disclosures and monthly reserve audits by PwC. Eligible clients can trade FIDD on Fidelity platforms and external exchanges like Kraken and Bullish. Fidelity positions FIDD as a bridge between traditional finance and blockchain, aiming to expand its use beyond trading to institutional and retail payments and settlements.