According to official information cited by TechFlow on June 12, Fidelity, one of the world’s large asset management companies, is moving forward with bringing its stablecoin on-chain and has selected Uniswap as the liquidity layer for that effort. The FIDD pool has gone live, placing Uniswap in the role of providing the on-chain liquidity layer for the stablecoin.
Fidelity Digital Assets had previously launched FIDD, a stablecoin issued on Ethereum. The token is pegged 1:1 to the U.S. dollar and is available to both retail and institutional investors. The structure described in the announcement positions FIDD as a dollar-linked stablecoin within Fidelity’s digital asset services.
Investors are able to purchase or redeem FIDD through Fidelity Digital Assets, Fidelity Crypto, and the Wealth Manager platform. With Uniswap selected for the liquidity layer, Fidelity’s stablecoin rollout connects its Ethereum-based FIDD product with an existing decentralized trading infrastructure as part of its on-chain stablecoin push.