Fidelity's Ethereum Digital Dollar Could Cost Banks $500B by 2028

Fidelity Digital Assets, a national trust bank, issued the Fidelity Digital Dollar, an Ethereum based stablecoin backed by cash, cash equivalents and short term U.S. Treasury securities. Fidelity can freeze accounts and publishes daily supply data, leveraging new U.S. stablecoin rules to distribute through its brokerage and banking platforms.