Fidelity Investments plans to launch a dollar-backed stablecoin called the Fidelity Digital Dollar (FIDD), the firm said on Jan. 28, 2026, as reported on Twitter. The token will launch on Ethereum and be issued by Fidelity Digital Assets, National Association, a trust bank that received conditional approval from the Office of the Comptroller of the Currency in December.
FIDD will be backed by cash, cash equivalents, and short-term U.S. Treasuries managed by Fidelity, aligned with the GENIUS Act’s standards for payment stablecoins. The coin will compete with offerings from JPMorgan, Bank of America, Tether, and Circle.
Mike O’Reilly, president of Fidelity Digital Assets, said “This is really just the next step in the evolution of our digital asset platform.” He added “It gives a clear regulatory framework for what reserves should look like and how they should be managed. That’s good for the industry and made this the right time for us to bring a product to market.” (Ed. note: the GENIUS Act defines reserve and management requirements.)
O’Reilly also noted that the stablecoin will enable further on-chain services within Fidelity’s ecosystem. Fidelity is set to roll out FIDD in the coming weeks, joining other large U.S. firms entering the digital asset space.
