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- Fidelity will issue a dollar-backed stablecoin, FIDD, on Ethereum through its national trust bank.
- U.S. stablecoin regulation under the GENIUS Act is shaping institutional participation.
- WisdomTree is bringing its entire tokenized fund suite to Solana for native onchain access.
Fidelity Investments is preparing to roll out its first stablecoin, a move that places one of the world’s largest asset managers directly into the fast-growing market for onchain payments and settlement. At the same time, WisdomTree is expanding its tokenized fund suite to Solana, underscoring how traditional financial firms are increasingly embracing blockchain infrastructure as U.S. regulation around digital assets takes clearer shape.
Together, the developments highlight a broader shift: established institutions are no longer just experimenting with blockchain—they are building products designed to operate natively on public networks.
Fidelity Introduces the Fidelity Digital Dollar
Fidelity said it will launch a U.S. dollar–pegged stablecoin called the Fidelity Digital Dollar, branded as FIDD. The token will be issued by Fidelity Digital Assets’ national trust bank and initially deployed on Ethereum. According to the firm, FIDD will be redeemable one-to-one for U.S. dollars through Fidelity platforms.
Both retail and institutional clients will be able to buy or redeem FIDD for $1 using Fidelity Digital Assets, Fidelity Crypto, and Fidelity Crypto for Wealth Managers. The stablecoin will also be transferable to any Ethereum mainnet address and made available on major crypto exchanges where it becomes listed.
Fidelity will oversee issuance and reserve management, while its asset management arm will handle the underlying reserve assets. The company said the launch follows years of internal development, including early testing of a stablecoin in 2025.
Regulation Provides a Clearer Path
Fidelity pointed to the passage of the GENIUS Act as a key factor enabling its entry into stablecoins. The law established a federal framework for payment stablecoins in the U.S., offering clearer rules around issuance and oversight.
The stablecoin market has expanded rapidly, reaching nearly $300 billion in total supply. At the same time, major global banks have disclosed that they are jointly exploring a reserve-backed digital payment asset for public blockchains, focused on G7 currencies.
However, debate continues in Washington over a broader crypto market structure bill, including questions about reserve standards and whether issuers should be allowed to share yield with users.
Also Read: Tether Buys 27 Tons of Gold as Tokenized Gold Market Explodes Past $5B
WisdomTree Expands Tokenized Funds to Solana
Separately, WisdomTree announced it is extending its full lineup of tokenized investment funds to Solana. Institutional and retail investors will be able to mint, trade, and hold these funds natively on the network through WisdomTree Connect and WisdomTree Prime.
WisdomTree’s products already operate across several blockchains, but the Solana deployment represents one of its largest non-EVM expansions. The firm said users will also be able to move between tokenized funds and digital cash using conversion services for USDC and PayPal’s PYUSD.
WisdomTree manages more than $772 million in tokenized assets, while Solana hosts over $1.3 billion in onchain real-world assets.
Fidelity’s stablecoin launch and WisdomTree’s Solana expansion point to a maturing phase for onchain finance, where large asset managers are committing to production-grade products rather than pilot programs. As regulatory clarity improves and infrastructure scales, traditional firms appear increasingly willing to operate directly on public blockchains.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
