Fidelity Investments, a major player in the financial sector, is preparing to launch its own stablecoin amid US legislative developments.
Fidelity Enters the Stablecoin Market
Fidelity Investments, managing $6 trillion in assets, plans to launch its own stablecoin through its subsidiary, Fidelity Digital Assets. This move introduces new competition on a market already dominated by giants like Tether's USDT and Circle's USDC.
Context of US Legislative Preparations
The financial industry anticipates the enactment of new stablecoin regulations in the US within the next two months. The GENIUS Act will establish collateralization guidelines for stablecoin issuers and require full compliance with Anti-Money Laundering laws.
Other Key Developments in the Stablecoin Market
Yesterday, World Liberty Financial (WLFI), a DeFi project supported by former US President Donald Trump, officially announced the issuance of a stablecoin called USD1.
As Fidelity Investments prepares to enter the stablecoin market, US legislative changes highlight the growing importance of this trend in the global financial landscape.
