Fidelity Launches Stablecoin Reserve Management Fund
Fidelity Investments is entering the stablecoin reserve management market by launching 'Fidelity Reserves Digital Fund,' a money market fund for institutional investors and stablecoin issuers. The move follows similar efforts from State Street, as both firms aim to capitalize on the growing $320 billion U.S. stablecoin sector projected to reach up to $4 trillion by 2030.