Fidelity Digital Dollar 

FIDD Price

What is the Fidelity Digital Dollar (FIDD) stablecoin?

Fidelity Digital Dollar (FIDD) is a US dollar payment stablecoin issued by Fidelity Digital Assets, National Association (FDA, NA) - a national trust bank chartered by the Office of the Comptroller of the Currency in 2025 and a subsidiary of Fidelity Investments. Each FIDD token is an ERC-20 on Ethereum with a $1 redemption price from FDA, NA. Fidelity announced the stablecoin on January 28, 2026, with retail availability via Fidelity Crypto announced February 4, 2026. FIDD targets payments, settlement, and on-chain collateral under the GENIUS Act framework.

How does Fidelity Digital Dollar maintain its $1 peg?

FDA, NA maintains the peg through a mint-and-burn mechanism: the issuer mints new FIDD on each customer purchase and burns tokens on redemption, both at the fixed $1 redemption price. Purchases and redemptions carry no fees, with a one-unit minimum. Per the token's terms, redemptions settle almost instantaneously and no later than two business days. Outside Fidelity channels, FIDD trades as a transferable ERC-20, so secondary-market prices can deviate slightly from $1 - non-Fidelity holders lack the guaranteed redemption path.

What reserves back FIDD's value?

FIDD reserves consist of cash, US Treasuries with three months or less to maturity, overnight fully collateralized reverse repurchase agreements, government money market funds such as FRGXX and FRBXX, and deposits at US banks. The Bank of New York Mellon custodies the reserves in segregated accounts. Fidelity Management & Research Company LLC manages the reserve portfolio. Reserve net asset value is disclosed daily, and PricewaterhouseCoopers examines a monthly Reserve Report under AICPA attestation standards - the first report was published in February 2026.

Can Fidelity freeze FIDD held in an external wallet?

Yes. FDA, NA can freeze or restrict transfers to and from any Ethereum address holding FIDD - the token is fully centralized, and the issuer exercises control at the contract level. Reserve backing carries no pass-through FDIC insurance, so the $1 claim depends on the issuer rather than deposit insurance. Because FIDD is a single-issuer stablecoin, all redemption risk sits with FDA, NA. Segregated custody at BNY Mellon, daily NAV disclosure, and PwC-examined monthly reserve reports mitigate but do not eliminate this counterparty exposure.

Does the FIDD stablecoin pay interest to holders?

No. FIDD pays no interest or yield to holders, and the GENIUS Act payment-stablecoin framework prohibits issuer interest payments. FDA, NA retains the income earned on reserve assets. FIDD also has no earning campaigns, airdrops, or incentive programs - issuer documentation describes purchase, redemption, and transfer only, with no incentive programs announced as of the issuer's terms update of April 13, 2026.

Can retail customers buy FIDD?

Yes, in eligible US states and territories. Fidelity distributes FIDD through three channels: institutional clients access the token via the FDA platform, retail customers via Fidelity Crypto, and financial advisors via Fidelity Crypto for Wealth Managers. Buying through these Fidelity channels carries the guaranteed $1 redemption price. Retail availability was announced on February 4, 2026, alongside custodial wallet integration reported via Fireblocks.

Where can FIDD be traded outside Fidelity?

Per DropsTab data, FIDD trades on Kraken in three spot pairs - FIDD/USD, FIDD/USDC, and FIDD/USDT - and on Ethereum-mainnet decentralized liquidity in two Uniswap v3 pools (FIDD/USDC and FIDD/USDT). The issuer's stablecoin page also names Bullish among select exchanges carrying FIDD. No derivatives markets are tracked. External venue coverage is thin relative to major stablecoins, so off-platform liquidity is limited; the guaranteed $1 purchase and redemption path runs only through Fidelity channels.

Does FIDD have a maximum supply or vesting schedule?

FIDD has no fixed maximum supply. FDA, NA mints new tokens on purchase and burns them on redemption, so circulating supply expands and contracts continuously with user demand - see DropsTab for the live figure. FIDD also has no vesting schedule or unlock calendar: the issuer minted the token directly, with no team, investor, or treasury allocations and no cliff structure. Classic dilution and unlock sell-pressure risk therefore do not apply; the structural risk is issuer counterparty exposure and the freeze function.

How does FIDD differ from USDC and PYUSD?

FIDD differs from USDC and PYUSD primarily in issuer structure and distribution. The issuer of FIDD is an OCC-chartered national trust bank - Fidelity Digital Assets, NA, a subsidiary of Fidelity Investments chartered in 2025 - and its $1 redemption path runs exclusively through Fidelity channels. FIDD pays no interest. Per DropsTab data, its external trading footprint (Kraken spot pairs plus Uniswap v3 pools) is thin relative to major stablecoins such as USDC, making exchange liquidity a secondary access route rather than the primary one.