Add on GoogleAdd Decrypt as your most popular supply to see extra of our tales on Google.
Constancy Investments will develop its digital asset choices with plans to launch its personal U.S. dollar-pegged stablecoin, the Constancy Digital Greenback (FIDD), the agency stated in a press launch.
The brand new token can be out there to retail and institutional traders "within the coming weeks" and run on the Ethereum blockchain.
The stablecoin can be issued by Constancy Digital Belongings, the agency's crypto-focused subsidiary and be absolutely backed by U.S. {dollars} and high-quality money equivalents.
“As a number one asset supervisor and a digital property pioneer, Constancy is uniquely positioned to offer traders with on-chain utility by way of a digital greenback," stated Mike O’Reilly, president of Constancy Digital Belongings, within the press launch.
Constancy's new Ethereum-based token will enter a really crowded market with incumbents like Circle's USDC and Tether's USDT, which collectively account for 82% of the overall stablecoin market capitalization.
Stablecoins skilled document development in 2025. By the top of the 12 months, the class's market capitalization had grown by 49% to $306 billion. As of this writing, the market cap has now reached $311 billion, in accordance with crypto worth aggregator CoinGecko.
The expansion owes largely to the signing of the GENIUS Act in July. It allowed for the issuance and buying and selling of stablecoins within the U.S.
In March 2025, an individual acquainted with the agency informed Decrypt that Constancy had began testing a stablecoin. On the time, the unnamed supply stated the $5 trillion asset supervisor wasn't but able to carry the token to market.
Constancy’s transfer displays rising curiosity amongst conventional monetary corporations in stablecoins as blockchain-based settlement good points traction—despite the fact that not all of them wish to supply a retail product.
JPMorgan made waves final 12 months when it filed a trademark for "JPMD," setting off hypothesis that the financial institution would quickly launch a stablecoin. However the token turned out to be a greenback deposit token that now trades on Coinbase-incubated Ethereum layer-2 community Base and the Canton Community.
