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DEVELOPING: Fidelity SHOCKS Markets With Stablecoin Launch!

FIDELITY LAUNCHES STABLECOIN, SHOCKS MARKETS. Fidelity Digital Dollar (FIDD) will be available in the coming weeks.

The Ethereum-based stablecoin can be bought or sold for $1. FIDD is backed by cash reserves, equivalents, and short-term US Treasuries.

Stablecoins are cryptocurrencies pegged to assets like the US dollar. The launch follows the GENIUS Act signed last July.

The law established a framework for digital currencies. It also requires 100% reserve backing for stablecoins.

This is a developing story. Further details will be added as they emerge.

AI-Assisted Journalism

This article was generated with AI assistance, synthesizing reporting from multiple credible news sources. Our editorial team reviews AI-generated content for accuracy.

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