Fidelity Investments Launches Its Own Stablecoin

Fidelity Investments is set to launch its own stablecoin soon, which will help it more actively penetrate the digital asset market, according to Financial Times.

According to insider information, the coin is in the final stages of testing and will be used as a digital equivalent of cash for crypto transactions. The project will be overseen by Fidelity Digital Assets.

A few days ago, the company filed documents to register a tokenized version of its U.S. money market fund, the Fidelity Treasury Digital Fund (FYHXX).

Earlier, cryptocurrency exchange Binance announced that starting March 31, it will no longer support trading pairs with USDT, FDUSD, TUSD, USDP, DAI, AEUR, UST, USTC, and PAXG for clients in the European Economic Area.