Fidelity Digital Dollar

FIDD Price

About Fidelity Digital Dollar (FIDD)

Fidelity Digital Dollar (FIDD) is a stablecoin pegged 1:1 to the U.S. dollar, issued by Fidelity Digital Assets, National Association.

• The asset is fully backed by a reserve of cash, U.S. treasuries, and other liquid assets held at The Bank of New York Mellon.
• It leverages the institutional expertise and stringent operational standards of Fidelity Investments to provide a regulated digital representation of the dollar.
• FIDD is available to institutional clients through the Fidelity Digital Assets platform and to retail investors via Fidelity Crypto.

What Is Fidelity Digital Dollar

Fidelity Digital Dollar serves as a bridge between traditional finance and the digital asset ecosystem, providing a stable medium of exchange for institutional and retail users. The project draws on over a decade of commitment from Fidelity Investments to the digital asset space, aiming to support evolving business needs with a reliable on-chain asset.

Value moves through the system via the issuance and redemption of tokens, which are performed by Fidelity Digital Assets, NA. Users can purchase or sell FIDD for a guaranteed $1 price through Fidelity's own platforms. The token functions as an application utility token, enabling users to retain value, settle trades, and transfer assets across the Ethereum mainnet. This model is designed to scale as more institutional and retail participants integrate digital dollars into their financial operations.

What Makes Fidelity Digital Dollar Unique

• Institutional Pedigree: As a product of Fidelity Investments, FIDD benefits from the history, principles, and risk management frameworks of a global financial leader.
• Transparency Standards: The circulating supply and reserve net asset value are disclosed daily, and monthly attestation reports are examined by PricewaterhouseCoopers LLP under AICPA standards.
• Regulated Issuance: The token is issued by a national trust bank chartered by the Office of the Comptroller of the Currency (OCC).
• Integrated Model: Key functions, including reserve asset management by Fidelity Management & Research Company LLC, are handled within the Fidelity ecosystem, offering a full-service stablecoin model.

What Can You Use Fidelity Digital Dollar for?

Fidelity Digital Dollar is pegged to the US Dollar. Drawing on available source material, its primary use cases include:

1. Value retention: FIDD allows users to hold a digital, on-chain representation of the US Dollar, which may reduce exposure to the volatility typical of the broader cryptocurrency market.
2. Yield generation: The source does not specify native yield or decentralized lending options for FIDD holders.
3. Cross-border settlement / value transfer: The token can be transferred to any Ethereum mainnet wallet address, facilitating the international transfer of value and settlement of global trade, subject to regulatory compliance.
4. Collateralization: The source does not specify the use of FIDD as collateral in borrowing or lending protocols.

How Does Fidelity Digital Dollar Work?

Technically, FIDD is implemented as a mintable token on the Ethereum blockchain. Each token in circulation represents a claim on one U.S. dollar held in the project's reserves. The issuance and redemption process is managed by Fidelity Digital Assets, NA, ensuring that the token supply remains aligned with the underlying collateral.

As an application utility token, FIDD does not serve as network gas. Transaction fees for moving FIDD on the blockchain are paid in the native currency of the Ethereum network, though Fidelity may apply protocol service fees for issuance and redemption activities performed on its proprietary platforms.

Team Info and Investors

Fidelity Digital Dollar is an initiative of Fidelity Digital Assets, National Association, a subsidiary of Fidelity Investments. The project is governed by the rigorous internal controls and oversight of the parent corporation. As a corporate product, it is backed by the resources of Fidelity Investments, one of the world's largest financial services providers, rather than traditional venture capital or early-stage crypto investors.

Where can you buy Fidelity Digital Dollar?

FIDD tokens can be traded on centralized crypto exchanges and decentralized exchanges. The most popular exchange to buy and trade Fidelity Digital Dollar is Bullish, where the most active trading pair BTC/FIDD has a trading volume of $10,909,171.02 in the last 24 hours. Other popular options include Kraken and Uniswap V3 (Ethereum).

What is the daily trading volume of Fidelity Digital Dollar (FIDD)?

The trading volume of Fidelity Digital Dollar (FIDD) is $19,116,624.89 in the last 24 hours, representing a 11.80% increase from one day ago and signalling a recent rise in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for Fidelity Digital Dollar (FIDD)?

Fidelity Digital Dollar (FIDD) reached an all-time high of $1.01 and an all-time low of $0.9086. It’s now trading -1.10% below that peak and 10.00% above its lowest price.

What is the market cap of Fidelity Digital Dollar (FIDD)?

Market capitalization of Fidelity Digital Dollar (FIDD) is $50,724,137 and is ranked #484 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of FIDD tokens (51 Million tokens are tradable on the market today).

What is the fully diluted valuation of Fidelity Digital Dollar (FIDD)?

The fully diluted valuation (FDV) of Fidelity Digital Dollar (FIDD) is $50,724,137. This is a statistical representation of the maximum market cap, assuming total number of 51 Million ETH tokens are in circulation today.

How does the price performance of Fidelity Digital Dollar compare against its peers?

With a price increase of 0.00% in the last 7 days, Fidelity Digital Dollar (FIDD) is underperforming the global cryptocurrency market which is up 9.60%, while underperforming when compared to similar Stablecoins cryptocurrencies which are up 0.80%.

How to add Fidelity Digital Dollar (FIDD) to MetaMask?

Adding Fidelity Digital Dollar (FIDD) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import FIDD as a token. You can copy FIDD’s contract address (0x7c135549504245b5eae64fc0e99fa5ebabb8e35d) and import it manually, or if you've installed MetaMask's chrome extension, add FIDD to MetaMask with one click on CoinGecko.

Add FIDD to MetaMask.