Fidelity to Launch Stablecoin... "Currently in Final Testing Stage"

Uk Jin

Summary

Fidelity has reportedly reached the final stage of testing for launching its stablecoin.
The project, managed by the digital assets division, is said to be related to tokenized U.S. Treasury.
Fidelity reportedly submitted documents to the SEC to launch a tokenized money market fund.

Fidelity, a major asset management company in the United States and issuer of the Bitcoin (BTC) spot Exchange-Traded Fund (ETF), is reportedly set to launch a stablecoin (a virtual asset linked to the value of fiat currency).

On the 26th (local time), the Financial Times reported, citing sources, that Fidelity has reached the final stage of testing its stablecoin. The project is known to be managed by the digital assets division.

Meanwhile, Fidelity's stablecoin is said to be related to the tokenized U.S. Treasury, which is reportedly in preparation for launch. Last week, Fidelity submitted documents to the Securities and Exchange Commission (SEC) to launch the tokenized money market fund 'Fidelity Treasury Digital Liquidity'.