Fidelity Set to Launch Its Own Stablecoin—Joins Crypto's Big League

Fidelity Investments, a $4.5T asset management giant, is diving deeper into crypto with its own stablecoin now in the works. According to CNBC, the firm is testing a USD-pegged digital asset designed to function as cash across crypto rails. The move signals another institutional bet on blockchain infrastructure—and it’s coming fast.

This development aligns with renewed U.S. policy momentum under President Trump, who has openly backed stablecoins as a tool to preserve USD dominance globally. Treasury Secretary Scott Bessant recently stated:

“We will use stablecoins to keep the U.S. dollar the world’s reserve currency.”

Fidelity’s digital asset division is leading the build, which would put the firm in direct competition with the likes of Tether ($USDT), Circle ($USDC), and Ripple’s RLUSD. This follows Fidelity’s recent filing for a digital market fund—confirming it’s not just dipping its toes in crypto. It’s going all in.

This also sparks new momentum for Ethereum, home to most of the major decentralized stablecoin ecosystems like:

$CRV , $AAVE , $PENDLE , $LDO, $MKR, $RPL

—all actively contributing to DeFi liquidity and protocol growth.

Stablecoins are no longer fringe tech. They’re fast becoming a geopolitical weapon and a Wall Street race. With Fidelity’s entry, expect others to follow.