Fidelity Investments正在推出自己的Stablecoin，以加深其参与加密货币市场

这一举动是因为美国政府在唐纳德·特朗普（Donald Trump）总统的领导下加速了加密行业的监管改革。这些变化为传统金融机构进入该空间创造了有利的条件。

U.S. asset management giant Fidelity Investments is preparing to deepen its involvement in the crypto market by launching its own stablecoin, a move that comes as the Trump administration accelerates regulatory reforms in the crypto industry.

美国资产管理巨头富达投资正在准备通过推出自己的Stablecoin来加深其参与加密市场的参与，这一举动随着特朗普政府加速加密行业的监管改革而采取的举动。

These changes are paving the way for traditional financial institutions to enter the crypto market in greater numbers.

这些变化为传统的金融机构铺平了道路，使得进入加密货币市场。

What Is Fidelity’s Ambition Behind Its Stablecoin Plan?

富达在其稳定计划背后的野心是什么？

According to the Financial Times, Fidelity has already advanced testing for its stablecoin and aims to use it as a form of “cash” for transactions in the crypto market. This signals direct competition with leading stablecoins like USDT and USDC, which are known for their role in market liquidity.

根据《金融时报》的报道，富达已经对其稳定的测试进行了提前测试，并旨在将其用作加密市场交易的“现金”形式。这标志着与USDT和USDC等领先的稳定币的直接竞争，它们以其在市场流动性中的作用而闻名。

Moreover, Fidelity’s stablecoin is likely designed to be pegged to the US dollar, maintaining a 1:1 reserve backed by US Treasury bonds—a familiar model in the industry. However, Fidelity’s ambitions go beyond just issuing a stablecoin. The company plans to integrate it with a broader asset tokenization strategy.

此外，Fidelity的Stablecoin可能被设计为挂钩美元，并保持了由美国财政部债券支持的1：1储备，这是该行业中熟悉的模式。但是，富达的野心不仅仅是发出稳定的。该公司计划将其与更广泛的资产令牌化策略融合在一起。

Last weekend, Fidelity filed an application to launch a digital money market fund in May 2025. This move directly competes with industry giants like BlackRock and Franklin Templeton.

上周末，富达（Fidelity）于2025年5月提出了一项申请，以启动数字货币市场基金。此举直接与贝莱德（Blackrock）和富兰克林·邓普顿（Franklin Templeton）等行业巨头竞争。

Cynthia Lo Bessette, Head of Digital Asset Management at Fidelity, believes that tokenization could transform finance. She highlights its potential to enable digital assets to be used as collateral for margin requirements in trading.

Fidelity的数字资产管理负责人Cynthia Lo Bessette认为，令牌化可以改变金融。她强调了它的潜力，使数字资产能够用作交易保证金要求的抵押品。

The global stablecoin market is currently valued at $234 billion, and Fidelity is certainly keen to claim its share of this rapidly expanding sector.

全球Stablecoin市场目前的价值为2340亿美元，Fidelity肯定渴望声称在这一迅速扩展的行业中所占的份额。

In January 2025, Fidelity Digital Assets released its “2025 Look Ahead” report, which suggested that Bitcoin was on the verge of mainstream adoption and reassured investors that they were “not too late” to enter the market.

2025年1月，Fidelity Digital Assets发布了其“ 2025 Fook fefra”的报告，该报告表明，比特币正处于主流采用和向投资者的放心，他们“不太迟”进入市场。

Chris Kuiper, Director of Research at Fidelity Digital Assets, predicts that 2025 will mark a turning point. He expects digital assets to cross the threshold into mainstream acceptance, driven by growing adoption from nations and major corporations.

富达数字资产研究总监克里斯·库珀（Chris Kuiper）预测，2025年将标志着一个转折点。他预计，由于国家和大型公司的收养不断增长，数字资产将越过主流接受。

Fidelity has long positioned itself as a pioneer in institutional crypto services. Since 2018, the company has offered Bitcoin custody solutions to institutional investors, demonstrating its long-term vision for blockchain technology.

富达长期以来一直将自己定位为机构加密服务的先驱。自2018年以来，该公司已向机构投资者提供了比特币监管解决方案，展示了其对区块链技术的长期愿景。

The Stablecoin Race Is Heating Up

Stablecoin种族正在加热

The stablecoin market is becoming increasingly competitive as major players enter the fray. Tether (USDT), the largest stablecoin, currently holds a $144 billion market capitalization, amounting to over 61% of the market. Meanwhile, Circle (USDC) continues to expand its footprint.

随着主要参与者进入竞争，Stablecoin市场越来越有竞争力。 Tether（USDT）是最大的Stablecoin，目前持有1440亿美元的市值，总计超过61％的市场。同时，Circle（USDC）继续扩大其足迹。

As new stablecoins emerge and compete to claim their place, the race is heating up. CZ, the former CEO of Binance, believes that this competition will only make the market more dynamic.

随着新的Stablecoins的出现并竞争夺取自己的位置，比赛正在加热。 Binance的前首席执行官CZ认为，这项竞争只会使市场更具活力。

“No need to replace. The more, the merrier,” CZ remarked.

CZ说：“无需替换。越多，越来越多。”

According to DefiLlama, the total stablecoin market capitalization surged from $130 billion at the end of 2023 to over $200 billion by December 2024. Bitwise predicts that this figure could reach $400 billion by the end of 2025.

根据Defillama的说法，Stablecoin的总市值从2023年底的1300亿美元飙升至2024年12月的2000亿美元。Bitwise预测，到2025年底，这一数字可能会达到4000亿美元。

Not only crypto-native companies but also traditional financial institutions and fintech firms, such as PayPal (with PYUSD), Custodia Bank, and Vantage Bank, are entering the stablecoin market.

不仅加密本地公司，而且传统的金融机构和金融科技公司，例如PayPal（与Pyusd），Custodia Bank和Vantage Bank，都进入了Stablecoin市场。

Moreover, World Liberty Financial, a project backed by the Trump family, announced its USD1 stablecoin on March 25, 2025. The project managed to raise $550 million in just a few months, highlighting the strong interest in stablecoins from both political and financial domains.

此外，由特朗普家族支持的项目世界自由金融（World Liberty Financial）于2025年3月25日宣布其USD1 Stablecoin。该项目在短短几个月内设法筹集了5.5亿美元，强调了政治和金融领域对稳定的股份的强烈兴趣。