Share this article
Fidelity Investments Prepares to Unveil Its Own Stablecoin: FT
A Fidelity stablecoin could fill the role of cash in the blockchain-based version of its U.S. dollar money market fund
Updated Mar 26, 2025, 1:24 p.m. Published Mar 26, 2025, 9:43 a.m.
What to know:
- Fidelity Investments is in advanced stages of developing its own stablecoin.
- The company plans for the token to serve as a form of digital cash.
- The report emerged after Fidelity filed paperwork to register a blockchain-based version of its U.S. dollar money market fund.
Fidelity Investments is in advanced stages of developing its own stablecoin, the Financial Times reported on Wednesday.
The Boston-based financial services giant plans for the token to serve as a form of digital cash, according to the report, which cites two people close to the matter.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The token would form part of company's strategy to enter the tokenized government bonds market. Stablecoins are a cryptocurrency whose value is pegged to a real-world asset such as the U.S. dollar or gold. They provide a convenient way for crypto traders to preserve their fiat value without having to cash out of the market.
The news emerges just days after Fidelity filed paperwork to register a blockchain-based version of its U.S. dollar money market fund.
The company seeks to register an "OnChain" share class of its Treasury Digital Fund (FYHXX), which holds cash and U.S. Treasury securities and is available only to Fidelity's hedge fund and institutional clients. A Fidelity stablecoin could fill the role of cash in this fund.
The stablecoin would enter an already crowded market dominated by the likes of Tether's USDT and Circle's USDC. The report comes a day after , a decentralized finance protocol backed by President Donald Trump, confirmed it too has plans to offer a stablecoin.
Fidelity did not immediately respond to CoinDesk's request for further comment.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Turkey's Paribu Buys CoinMENA in $240M Deal, Expanding Into High-Growth Crypto Markets
With the acquisition, Paribu gains regulatory foothold in Bahrain and Dubai and access to the region's fast-growing crypto user base.
What to know:
- Paribu acquires Bahrain- and Dubai-based CoinMENA for up to $240 million.
- Deal marks Turkey’s biggest fintech acquisition and first international crypto M&A, the firm said.
- The move taps into the MENA region’s fast-growing crypto user base and supportive regulatory hubs.
Top Stories
