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.
