Banks to lose up to $500B by 2028 as Fidelitys digital dollar launches on Ethereum with freeze powers

Fidelity announced the launch of a stablecoin on the and OCC trust bank approvals have standardized the lane.

Fidelity’s token demonstrates what that lane looks like in practice: a dollar that travels at internet speed, operates within a US compliance perimeter, and is distributed through Fidelity’s existing customer base.

The token isn’t trying to replace Tether or Circle. It’s trying to become the settlement layer for Fidelity’s own financial services stack and, potentially, a neutral rail for…