From Yahoo Finance: 2025-03-26 20:56:00

Fidelity Investments is testing its own stablecoin on Ethereum, set to integrate into its Treasury money market fund. Other institutions like Custodia, Vantage Bank, BitGo, and World Liberty Financial are also entering the stablecoin market. The U.S. Senate Banking Committee approved the GENIUS Act to regulate stablecoins.

The Trump administration supports blockchain innovation and simple rules for stablecoins. Fidelity is also working on launching an ETF tied to Solana. The competition in blockchain-based financial services is growing rapidly, with BlackRock and Franklin Templeton already offering tokenized money market funds.

Fidelity’s stablecoin initiative shows the increasing integration of digital finance into traditional investment strategies. Regulatory developments will shape the future of stablecoin adoption and blockchain-based financial products.

Read more: Fidelity Develops Stablecoin and Tokenized Fund as U.S. Weighs New Crypto Regulations