🏦 Fidelity Joins Wall Street Race to Manage Stable coin Reserves Fidelity Investments has launched a new product called the Fidelity Reserves Digital Fund, designed specifically for stable coin issuers looking to store reserve assets under upcoming U.S. regulations.

🔸 The move highlights how major traditional finance firms are increasingly competing to become the infrastructure layer behind stable coins. Just days earlier, State Street also introduced a similar reserve-focused product.
📜 Under the new U.S. stable coin framework, issuers are expected to hold reserves in:
• Cash
• Short-term U.S. Treasuries
• Approved government money market funds
🔸 Fidelity says the new fund is built to comply directly with these requirements while also helping stable coin issuers generate additional yield on reserve capital.
The stable coin race is no longer just about issuing tokens. Now Wall Street wants to control the trillions in reserve assets sitting behind them.
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