Insider: Fidelity Plans to Launch a Stablecoin to Aid in Expansion of Its Sovereign Debt Tokenization Business

BlockBeats News, March 26, according to the Financial Times citing sources familiar with the matter, Fidelity Investments, the Boston-based fund company, is in the late stages of testing its token, which is designed to serve as cash in the cryptocurrency market and will be managed through its digital asset division.

Reportedly, the stablecoin launched by Fidelity is part of its emerging market expansion into a tokenized version of U.S. Treasury bonds. Late last week, it applied to launch a digital version of a U.S. money market fund at the end of May, directly competing with traditional asset management companies BlackRock and Franklin Templeton.