Fidelity Unveils Fidelity Digital Dollar (FIDD) to Rival Ripple’s USD Token
Fidelity announced Wednesday that it plans to roll out the Fidelity Digital Dollar (FIDD), a token intended as a dollar-pegged digital asset and direct competitor to Ripple’s USD token (RLUSD). The firm presented FIDD as a product for digital payments and institutional use, signaling a push by a traditional asset manager into tokenized fiat offerings.
The launch adds fresh competition to the market for tokenized dollars, which could expand on-ramps and liquidity but also draw closer regulatory and interoperability scrutiny. Market participants will be watching how Fidelity structures custody, distribution, and underlying rails, and whether FIDD changes trading dynamics for existing tokens like RLUSD. Fidelity did not specify a firm rollout timeline in the announcement.