Fidelity, one of the world’s largest asset managers, is launching its own altcoin. on the Ethereum network RWA We have seen that tokens were exported. Banks and financial companies GENIUS We also know the desire to issue stablecoins afterwards. But Fidelity is acting early.
Ethereum Last Minute
Manages trillions of dollars in assets, according to Bloomberg Fidelity It will issue GENIUS compatible stablecoins on the Ethereum network. This stablecoin, abbreviated FIDD, will be a token that complies with the stablecoin legislation enacted last year, that is, compliant with federal laws. Fidelity, which was an early mover in the Bitcoin ETF process, is now starting the token issuance process and showing us all what the next move of the world giants will be.
ETH price Although it is not much affected by the last announcement, it is a great detail that stablecoins and RWA tokens will be built on the Ethereum network in the long term. As trillions of dollars of value grow on the Ethereum network over the years, we will see the Ethereum network benefit from this as well. Of course, this will also have positive consequences on the ETH price.
