Fidelity quietly pilots its own stablecoin in push for tokenized assets: report

Fidelity Investments is in the last steps to test his own stablecoin while Washington is heading for new cryptographic surveillance.

One of the largest asset managers in the world, Loyalty investmentsseems to be piloting hers quietly stable Because it develops more in digital assets.

According to a financial time reportWho quotes two sources near the question, the giant of the $ 5 Billion Fund is at the advanced stages of the test of a token that would work as money on the cryptocurrency markets. Although the details remain unknown, the stablecoin would be managed via the digital arm of the digital assets of Fidelity.

It is not clear if Fidelity intends to make its stablecoin available to retail merchants in the same open way as the two largest stablecoin issuers, Tether and Circle, or if access will be limited to institutional investors only. At the time of the press, Fidelity did not publish any public declaration on the issue.

The last development comes only a few days after the Boston -based financial giant subject A proposal to introduce a version based on the blockchain of its monetary market fund in US dollars. The proposal, filed with the Securities and Exchange Commission of the United States, aims to record a class of “onchain” shares of Fidelity Treasury Digital Fund, which invests in cash securities in species and in American cash.

As Crypto.News reported it previously, the US Treasury Treasury Dekenisée is now the second contributor to the total value of tokenized real world assets, with a market capitalization of $ 4.80 billion, following only private credit funds, which holds $ 12.20 billion, according to Rwa.xyz.