Fidelity Investments is set to launch a U.S. dollar-pegged stablecoin as part of its growing interest in blockchain-based financial products. This move follows SEC filings for an on-chain share class of its Treasury Digital Fund (FYHXX). The regulatory landscape is evolving, with the U.S. Senate Banking Committee approving the GENIUS Act, which aims to regulate stablecoins with collateralization standards and AML compliance measures. The competition in blockchain-based financial services is intensifying, with Fidelity's stablecoin initiative coinciding with efforts to launch an ETF tied to Solana (SOL).

The cryptocurrency market experienced a mixed performance in early March 2025, with memecoins like SHIB, DOGE, and PEPE gaining significant market capitalization, while Bitcoin (BTC) and top layer-1 assets like Ethereum (ETH), XRP, and SOL underperformed. The US Securities and Exchange Commission (SEC) closed its investigation into Immutable without charges, marking a shift towards clearer crypto regulations. Fidelity Investments announced plans to launch a US Dollar-pegged stablecoin and an Ethereum-based share class for its US Dollar money market fund, positioning itself among major financial institutions integrating blockchain technology.

Fidelity Investments, a Boston-based asset manager with over $5 trillion in assets, is reportedly preparing to launch its own stablecoin. The Financial Times reported that Fidelity is in the advanced stages of testing the coin, which is part of the company's expansion into the tokenized US Treasuries market. Additionally, Fidelity is planning to introduce a digital version of a U.S. money market fund, which will put it in competition with rivals BlackRock and Franklin Templeton.

Fidelity Investments is in advanced stages of testing its own stablecoin, designed to act as cash in cryptocurrency markets. The move follows President Donald Trump's pledge to promote dollar-backed stablecoins, with World Liberty Financial also announcing plans to launch its own stablecoin backed by short-term US Treasuries.

This article discusses the performance of Ethereum (ETH), Cardano (ADA), and the new altcoin Remittix (RTX) in 2023. Ethereum is rallying due to Fidelity's tokenization move, while Cardano is maintaining its uptrend with ongoing network upgrades. Remittix, priced at $0.0734, has seen a 4x increase in value this year, driven by its focus on cross-border payments, which could capture mainstream users more quickly than traditional blockchain projects.