Fidelity Investments has unveiled its new stablecoin, FIDD, which is constructed on the Ethereum blockchain and issued by Fidelity Digital Assets. According to NS3.AI, the stablecoin is backed 1:1 by a reserve consisting of cash, cash equivalents, and short-term U.S. Treasuries, adhering to the GENIUS Act standards. FIDD facilitates continuous 24/7 institutional settlement and on-chain retail payments. It offers daily transparency through issuance and reserve disclosures, along with regular third-party audits to ensure compliance and reliability.