Fidelity Investments is launching a US dollar-backed stablecoin named Fidelity Digital Dollar (FIDD) on Ethereum, targeting both institutional and retail investors. The issuance follows recent regulatory developments in the U.S., including the passage of the GENIUS Act, which has clarified stablecoin regulations and boosted adoption. Despite the stablecoin market's growth and dominance by USDT and USDC, Fidelity's entry highlights increased competition from major financial firms entering this crowded space.

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