Fidelity Managing 6 Trillion Dollars Has Reached the Final Stage for Its Upcoming Coin! - Coin Bulletin

Fidelity Investments announced that it has reached the final stages of developing its own stablecoin.

Boston-based financial services giant Fidelity Investments plans to use the token it will launch as digital cash. According to a report by the Financial Times, the stablecoin will be part of the company's strategy to enter the tokenized government bonds market. Stablecoins are cryptocurrencies that are pegged to the value of a real asset, such as the US dollar or gold. In crypto trading, they allow investors to maintain their fiat values without exiting the market.

Fidelity's stablecoin news comes just days after the company's announcement that it registered a blockchain-based US dollar money market fund. The company applied to register an "OnChain" class of shares for the Treasury Digital Fund (FYHXX), which is accessible only to hedge funds and institutional clients, holding cash and US Treasury securities. Fidelity's stablecoin could take on the cash function of this fund.

This stablecoin will enter a crowded market dominated by major players like Tether’s USDT and Circle’s USDC. Following the announcement of the news, a decentralized finance protocol supported by U.S. President Donald Trump, World Liberty Financial (WLFI), announced its plans to issue a stablecoin.