Fidelity tests own stablecoin

The asset manager Fidelity is currently planning the launch of its own stablecoin.

The asset manager Fidelity is currently planning the launch of its own stablecoin. The Financial Times reports this.

According to the report, Fidelity's crypto-focused subsidiary is already testing several solutions for a blockchain-based digital dollar. The stablecoin is intended to act as digital cash within Fidelity's tokenized money market fund.

This news follows Fidelity's previous moves into the RWA (Real World Assets) sector. For example, the asset manager is preparing to launch a tokenized fund in US dollars, following the example of BlackRock's BUIDL fund.

The move is part of a broader trend of US financial powerhouses integrating digital assets, stablecoins and tokenization into their service offerings – as regulatory concerns about the crypto industry gradually ease.

Recently, the US President's DeFi project announced its own stablecoin, sending a clear signal to the traditional financial sector that the door is open for further innovations in this segment in the US.

Since the appointment of Donald Trump, a clearer regulatory framework has emerged for stablecoins and other crypto assets. Several bills are currently passing the US Senate and House of Representatives.

These should provide guidelines for the issuance of digital tokens pegged to the US dollar. The main point of contention in the past has been how issuers should be regulated – by individual states or by federal agencies.

At the same time, many traditional financial institutions are intensifying their efforts towards blockchain-based dollar solutions.

Meanwhile, the global market capitalization of stablecoins has reached a new record of US$234 billion, according to data from DeFiLlama.