Fidelity and other major crypto players are making strides amid a more favorable US regulatory environment for digital assets.
Fidelity Readies Stablecoin Launch
Fidelity Investments is nearing the launch of a US dollar-pegged stablecoin via its cryptocurrency arm, Fidelity Digital Assets. This move comes amid a favorable regulatory environment for crypto under the Trump administration. The new stablecoin will be part of Fidelity's broader push into digital assets, including the development of an 'OnChain' share class and Solana-based funds.
Custodia and Vantage Banks Collaboration
Custodia Bank and Vantage Bank have issued the United States' first bank-issued stablecoin, Avit, on the Ethereum blockchain. Custodia's headquarters emphasized compliance with regulatory requirements and the potential of tokenizing deposits on a permissioned blockchain.
Accelerated USDC Growth
USDC continues to dominate the stablecoin market, surpassing $60 billion in circulation. The growth was driven by increased usage on Solana and infrastructure improvements, including new cross-chain transactions and a launch in Japan.
Major players like Fidelity and Custodia Bank continue to push innovations in stablecoins and cryptocurrencies, taking advantage of a more crypto-friendly regulatory climate in the US.
