Fidelity Reportedly Plans to Launch Stablecoin Amid Tokenized Asset Push

In Brief:

Fidelity is reportedly finalizing testing for its own stablecoin, managed by its digital assets arm.

The move aligns with its broader expansion into tokenized U.S. Treasuries and money market funds.

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Boston-based financial giant Fidelity Investments is said to be in the advanced stages of testing a new stablecoin, according to sources cited by the Financial Times. The upcoming token is designed to function as a cash-equivalent within crypto markets and will be managed by Fidelity’s digital assets division.

This development marks another step in Fidelity’s deeper push into blockchain-based financial infrastructure. Just last week, Fidelity submitted an application to launch a tokenized version of its U.S. money market fund, expected to roll out by the end of May. The initiative directly positions Fidelity against major competitors like BlackRock and Franklin Templeton, both of whom have already made moves in the tokenized Treasury space.

The stablecoin is expected to complement these efforts by enabling real-time settlement and providing seamless liquidity within digital asset ecosystems. Fidelity’s entry would also expand institutional stablecoin offerings, which are currently dominated by players like Circle (USDC) and Tether (USDT).

More details about the stablecoin’s issuance, blockchain compatibility, and potential use cases are expected to emerge once Fidelity completes regulatory and infrastructure alignment.

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