Fidelity Investments is preparing to launch a U.S. dollar-pegged stablecoin in the coming weeks, marking a further step by a major asset manager into tokenized payment infrastructure, according to Bloomberg.
The report said the stablecoin would be issued under the name Fidelity Digital Dollar and would be linked to Fidelity’s digital asset operations.
Proposed issuer and regulatory structure
The token would be issued by Fidelity Digital Assets, National Association, a national trust bank entity that received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) in December, Bloomberg reported.
The report comes as stablecoins are increasingly being evaluated by traditional financial institutions for payment and settlement use cases.
Institutional stablecoin momentum
Stablecoins are increasingly being explored for payment and settlement applications as tokenized cash instruments in digital asset markets.
Fidelity has not yet published a standalone press release announcing the stablecoin launch, and details remain based on Bloomberg’s reporting.
