Fidelity’s new stablecoin: A bold step into crypto stability

After first making headlines upon filing paperwork for its very own money market fund, Fidelity seems to be taking the next step toward this grand goal by issuing its own Fidelity stablecoin. Having a proprietary stablecoin pegged to the US dollar could be the start of a multi-stage scheme to help crypto achieve mainstream adoption.

If you're new to fund-issued stablecoins, or perhaps a crypto beginner whose attention has been piqued, you might be wondering how Fidelity’s stablecoin could impact the crypto market. From highlighting how the Fidelity stablecoin differs from its other fiat-backed counterparts (e.g., Tether and Circle) to elaborating on the possible motives for launching it, here's everything you need to know about the proposed Fidelity stablecoin.

Key Takeaways:

• Fidelity Investments has built a reputation as a leader in financial services.

• With the demand for digital asset services growing larger over time, Fidelity Investments has quietly been building its presence in the crypto space through Fidelity Digital Assets since 2018.

• Fidelity recently announced that it would be launching its own stablecoin, to be pegged to the US dollar.