Fidelity Digital Assets is renewing its institutional push for the Fidelity Digital Dollar, or FIDD, an Ethereum-based stablecoin redeemable one-to-one for the U.S. dollar. The token is designed for payments, continuous settlement, account funding, capital transfers and tokenized real-world assets rather than investment returns. Fidelity’s dashboard showed approximately 50.09 million FIDD outstanding at a $1 redemption value, implying a market capitalization of about $50.09 million. This is below the 62.6 million-token figure cited in an earlier record, making the latest disclosure a revised current supply figure rather than evidence of a new token launch. FIDD was unveiled in January 2026 and began publishing reserve reports in February. Its reserves may include cash, short-term U.S. Treasuries, overnight reverse repurchase agreements, government money market funds and deposits at regulated U.S. banks, with assets held in segregated accounts including those at Bank of New York Mellon. Fidelity Management & Research Company manages the backing assets, while Fidelity Digital Assets, National Association issues FIDD and handles token-related services. Fidelity publishes supply and reserve net asset value daily and has monthly reserve reports examined by PricewaterhouseCoopers under American Institute of Certified Public Accountants standards. FIDD is available through eligible Fidelity platforms and externally through Kraken and Bullish, subject to account, identity, anti-money-laundering and sanctions requirements. Fidelity is entering a stablecoin market dominated by USDT and USDC, with adoption depending on institutional integrations and whether customers use FIDD for settlement rather than primarily holding it as on-chain cash.