Fidelity is preparing to launch its dollar-pegged stablecoin and has set a date!
Fidelity Investments is nearing the launch of its dollar-pegged stablecoin, in a move that reflects the increasing trend of financial institutions towards the cryptocurrency sector, especially under a more flexible regulatory environment led by President Donald Trump.
According to the Financial Times report, Fidelity is conducting final tests on its stablecoin, which is expected to be launched by the end of May.
The company has also filed a request with the SEC to launch an Ethereum-based "OnChain" share class for its digital fund, which invests in U.S. Treasury bonds.
This move comes amid the expansion of the stablecoin market, which is valued at $235 billion and is dominated by companies like Tether (USDT) and Circle (USDC).
Fidelity stands out as the latest entrant from the traditional financial sector into this field, benefiting from increasing regulatory clarity.
This trend is reinforced by the entry of major institutions into the stablecoin market, such as PayPal, which has already launched its PYUSD currency in 2023.
In recent months, several stablecoins have been launched by various banks.
However, they are still far from competing with Tether and its stablecoin USDT, which dominates the stablecoin market.
