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

According to The Block, Fidelity Investments announced the official launch of the dollar-pegged stablecoin Fidelity Digital Dollar (FIDD), which is available for retail and institutional investors. Investors can directly purchase or redeem it for $1 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 is made possible by the gradual clarification of stablecoin regulations 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.