Fidelity Plans Stablecoin Launch
Fidelity Investments, the $5 trillion asset management giant, is advancing its digital assets strategy with plans to launch its own stablecoin, as reported by the Financial Times.
The Boston-based company is in the late stages of testing this token, which is intended to function as cash within cryptocurrency markets, managed through Fidelity’s digital assets division.
This move is part of Fidelity’s broader expansion into the growing market for tokenized financial instruments. Recently, it also filed to launch a digital version of a US money market fund by the end of May, positioning itself against competitors like BlackRock and Franklin Templeton.
Cynthia Lo Bessette, head of digital asset management at Fidelity, told the Financial Times that “tokenization could transform the financial services industry.”
