According to Financial Times, one of the giants in the finance sector, Fidelity Investments is preparing to launch its own stablecoin.
Fidelity’s move came at a time when the U.S. is preparing stablecoin regulations.
Fidelity, which manages 6 trillion dollars, plans to launch its own stablecoin through its cryptocurrency division, Fidelity Digital Assets.
Fidelity’s stablecoin will enter a crowded market dominated by giant stablecoins like Tether’s USDT and Circle’s USDC.
Meanwhile, the cryptocurrency sector is awaiting the potential stablecoin regulations in the US that are expected to come out in the next two months.
The GENIUS Act, which stands for the National Innovation Framework for U.S. Stablecoins, will establish collateralization guidelines for stablecoin issuers and require full compliance with Anti-Money Laundering laws.
As a reminder, yesterday, the DeFi project World Liberty Financial (WLFI), supported by US President Donald Trump, officially announced that they would issue a stablecoin named USD1.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
