Fidelity seeks approval for a U.S. dollar-backed stablecoin as part of its broader blockchain strategy, following recent Bitcoin purchases and a Solana ETF filing—yet its stock shows minimal reaction.

U.S. asset manager Fidelity Investments is exploring whether to launch its own stablecoin, in the latest sign of mainstream investors looking to cash in on a revival of interest in cryptocurrencies.

Fidelity Investments is preparing to roll out its own U.S. dollar-pegged stablecoin, marking a significant step forward in the asset manager's ongoing expansion into digital assets. What Happened: The Boston-based firm is finalizing tests for the token through its dedicated digital assets division,