Stablecoin camp adds heavyweight player, Fidelity Investments is about to enter.

Fidelity Investments will launch its own stablecoin, joining a series of startups and financial institutions with similar intentions. The stablecoin, called "Fidelity Digital Dollars", will be issued by the Fidelity Digital Assets National Association. The national trust bank received a conditional operating license from the US Office of the Comptroller of the Currency in December. "We believe stablecoins have the potential to become foundational payment and settlement tools," said Mike O'Reilly, President of Fidelity Digital Assets. "Real-time settlement, 24/7 availability, and low-cost fund management are all important advantages that stablecoins can bring to our retail and institutional clients."