Overview
- FIDD launched on Ethereum with a reported initial issuance exceeding $59 million as transfers and trading begin across supported platforms.
- The stablecoin is redeemable at $1 per token and backed by cash and short‑term U.S. Treasuries, with reserves held in custody accounts at BNY Mellon.
- Fidelity discloses circulating supply and reserve net asset value daily and submits monthly reserve reports for PricewaterhouseCoopers examination under AICPA standards.
- Access spans Fidelity Digital Assets, Fidelity Crypto, and Fidelity Crypto for Wealth Managers, with availability on external exchanges where listed and transfers to any Ethereum address.
- Issuer controls include the ability to freeze addresses tied to illicit activity, reflecting compliance features as regulated stablecoins expand in a market now valued above $300 billion.