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The most popular and successful areas of the cryptocurrency market are stable digital currency projects, especially older projects that entered the market earlier, such as Tether and Circle, which control a large portion of the estimated total value of $312 billion.
Recently, Fidelity decided to join the competition with a new USD-based stable digital currency based on the Ethereum blockchain.
It is worth noting that Ethereum is the number one network for stable digital currencies, followed by Tron and Solana.
According to Bloomberg, the currency will be overseen by Fidelity Digital Assets and the National Association, which received conditional approval to operate from the OCC in December.
Fidelity is unlikely to compete directly with USDT; using FIDD may be closer to the needs of institutions. It is worth noting that “Fidelity” has more than 50 million customers and more than 15 trillion assets under management.
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