Fidelity plans stablecoin launch after SOL ETF ‘regulatory litmus test’
Financial institutions are also positioning themselves for upcoming US stablecoin legislation, which may be finalized in the next two months.
Fidelity Investments is reportedly in the final stages of testing a US dollar-pegged stablecoin, signaling the firm’s latest push into digital assets amid a more favorable crypto regulatory climate under the Trump administration.
The $5.8 trillion asset manager plans to launch the stablecoin through its cryptocurrency division, Fidelity Digital Assets, according to a March 25 report by the Financial Times citing anonymous sources familiar with the matter.
The stablecoin development is reportedly part of the asset manager’s wider push into crypto-based services. Fidelity is also launching an Ethereum-based “OnChain” share class for its US dollar money market fund.
