According to CryptoPotato, Fidelity’s digital asset management division is exploring stablecoins and tokenized treasury products. Nate Geraci, president of ETF Store, shared this information in a post on X on August 15, citing a report that Fidelity is also researching on-chain credit and structured products. Geraci emphasized the rapid pace of developments in this space.
During an interview with The Block, Cynthia Lo Bessette, head of Fidelity’s digital asset management division, discussed the firm’s interest in these areas. She expressed satisfaction with the market’s reception of crypto ETFs and highlighted the value of stablecoins as tokenized cash. Bessette hinted at the possibility of Fidelity launching its stablecoin product and mentioned that the next step could be tokenized treasury products. She also noted ongoing research into credit and structured products.
Geraci commented on the involvement of major asset managers like BlackRock, Franklin, and Fidelity in tokenization, suggesting that their interest underscores the value of these innovations. He pointed out that these are some of the world’s largest asset managers, emphasizing Fidelity’s dedicated digital asset management division.
In March, BlackRock announced a tokenized real-world asset (RWA) fund on Ethereum, reflecting the growing interest in this area. The tokenization of U.S. Treasuries has seen significant growth this year, with the total value locked reaching an all-time high of $1.92 billion on August 14, driven largely by BlackRock’s BUIDL fund. The total stablecoin market capitalization has also increased, reaching just below $170 billion, a 28% rise since the beginning of the year. The market cap of real-world assets, driven by tokenized private credit and U.S. Treasury debt, is just below $11 billion.
