Fidelity brings FIDD stablecoin to on-chain finance

Fidelity Digital Assets renewed its institutional push for the Fidelity Digital Dollar on Sept. 9, positioning the Ethereum-based stablecoin for payments, settlement and tokenized markets. Summary Fidelity Digital Assets issued FIDD on Ethereum, pegged one-to-one and redeemable for one U.S. dollar. Reserves include cash, short-term Treasuries and liquid assets held at Bank of New York Mellon. Fidelity discloses circulating supply daily while PwC independently examines monthly reserve reports under AICPA standards. Eligible clients can trade FIDD through Fidelity platforms, while Kraken and Bullish support external access. Fidelity reported approximately 50.09 million FIDD outstanding, matching its disclosed market capitalization at one dollar. Fidelity’s public dashboard showed approximately 50.09 million FIDD outstanding, giving the token a market capitalization of about $50.09 million at its $1 redemption value. The statement expands on FIDD’s intended uses rather than announcing a new token. Fidelity unveiled the stablecoin in January 2026 and began publishing reserve reports in February. Its latest communication presents FIDD as a bridge between conventional financial accounts ...