Fidelity’s Stablecoin Ambitions Revealed by FT

Fidelity Investments is preparing to launch its own stablecoin to strengthen its presence in the digital asset market, according to Financial Times, citing its sources.

Insiders indicate that the “stable coin” is in the final stages of testing and will serve as a digital cash equivalent for crypto transactions. The project will be managed by Fidelity Digital Assets.

This initiative is part of Fidelity’s expansion into the RWA segment. Last week, the company filed documents to register a tokenized version of its U.S. money market fund, Fidelity Treasury Digital Fund (FYHXX).

The launch coincides with changes in U.S. cryptocurrency regulation. The administration of President Donald Trump supports the development of legitimate dollar stablecoins and plans to finalize regulatory legislation by August.

Stablecoins like Tether often spark controversy. Critics point to risks to the financial system and potential fraud. However, tokenized money funds, which Fidelity aims for, are considered regulated and more reliable. According to RWA.xyz, the asset tokenization market has exceeded $19 billion.

Fidelity representatives note that tokenization has the potential to radically transform the financial industry. Among the promising directions is the use of tokens as collateral for margin trading.

Additionally, on March 25, the Chicago Board Options Exchange (CBOE) filed a SEC form 19b-4 for the launch of an exchange-traded fund tracking Solana’s spot price, from Fidelity.

On March 20, the company registered the Fidelity Solana Fund in the state of Delaware.

In March, the RWA restaking protocol Zoth was hacked for $8.4 million.

Last month, the proposed Volatility Shares futures SOL-ETF appeared on the list of assets at DTCC, becoming the first instruments based on Solana.