⚡ The Race Is On

Fidelity launches first-ever stablecoin, Securitize's 841% growth, UAE's first regulated stablecoin, and regulators are teaming up.

Feb 02, 2026

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The TLDR 👇

Fidelity Investments is launching a stablecoin on Ethereum.

Fidelity Investments is entering the stablecoin market. The $5.8 trillion asset manager announced FIDD (Fidelity Digital Dollar) will go live in February, making it one of the first major traditional financial institutions to issue a dollar-backed token under the GENIUS Act.

FIDD will be issued by Fidelity Digital Assets, a federally chartered national trust bank, and will run on Ethereum. Reserves will consist of cash, cash equivalents, and short-term U.S. Treasuries, with daily disclosures. The token will be redeemable 1:1 for dollars and transferable to any Ethereum mainnet address.

“Having a stablecoin within our ecosystem opens the door for other financial services to be built onchain, by us and others,” said Mike O’Reilly, President of Fidelity Digital Assets. “It becomes a building block for more efficient infrastructure.”

The use cases: 24/7 institutional settlement and onchain retail payments. FIDD will be available on Fidelity Digital Assets, Fidelity Crypto, and Fidelity Crypto for Wealth Managers platforms, as well as major exchanges. Source.

SEC and CFTC Push United Front on Crypto Regulation

The two agencies that control crypto’s fate in the U.S. are finally working together.

New CFTC Chairman Mike Selig joined SEC Chairman Paul Atkins at a “harmonization” event on Thursday, outlining an aggressive joint agenda. The CFTC will seek to join the SEC’s crypto asset taxonomy to clarify that digital commodities, collectibles, and utility tokens are not securities. Selig has directed staff to work with the SEC on joint codification of this framework while Congress finalizes legislation.

Additional priorities include rules to enable tokenized collateral, onshoring perpetual derivatives, safe harbors for software developers, and new prediction markets rulemaking.

“We are witnessing the foundation of modern markets take shape,” Selig said. “As this transformation unfolds, the CFTC has an opportunity to build on its historic role as a forward-looking regulator.”

Atkins added the agencies will be “deploying every tool at our disposal to reduce friction, to harmonize standards and definitions where appropriate, and to equip markets with confidence as Congress completes its vital work.” Source.

Tether Launches USAT in the US

Tether has officially entered the US market. The world’s largest stablecoin issuer launched USAT, a federally regulated dollar-backed token built specifically for the American market under the GENIUS Act.

USAT is issued by Anchorage Digital Bank, America’s first federally regulated stablecoin issuer. Cantor Fitzgerald serves as reserve custodian and preferred primary dealer. Bo Hines, former White House Crypto Council Executive Director, is CEO of Tether USAT.

This is a direct shot at Circle. While Tether’s USDT dominates globally with $186 billion in market cap, it has never had a compliant US product. USDC has owned that market. USAT changes the equation.

The scale behind Tether is hard to ignore. The company is the 17th-largest holder of US Treasuries globally, ahead of Germany, South Korea, and Australia. It made $15 billion in profit last year. Tether is targeting a $1 trillion market cap for USAT within five years.

At launch, USAT is available on Kraken, OKX, Bybit, Crypto.com, and MoonPay. Source.

Securitize Reports 841% Revenue Growth and Files to Go Public

Tokenization infrastructure is officially big business.

Securitize filed its SEC registration this week, moving toward a public listing via SPAC merger with Cantor Equity Partners II (CEPT). The numbers: $55.6 million in revenue for the first nine months of 2025, an 841% increase year-over-year.

If approved, Securitize will trade on Nasdaq under ticker SECZ. While crypto stocks sold off 5-10% this week, CEPT was up 4.4% on the news.

The company provides the rails that turn traditional assets; treasuries, funds, equity into blockchain-native tokens. BCG project the tokenized asset market could reach $18.9 trillion by 2033. Source.

UAE Central Bank Approves First Regulated USD Stablecoin

Universal Digital has launched USDU, the UAE’s first central bank-approved USD-backed stablecoin.

Universal Digital is now the first Foreign Payment Token Issuer registered by the Central Bank of the UAE. Reserves are held 1:1 in safeguarded onshore accounts at Emirates NBD and Mashreq.

“Being the first Foreign Payment Token registered by the UAE Central Bank gives institutions the clarity and confidence they have been waiting for,” said Juha Viitala from Universal. “It lays the groundwork for a more transparent and efficient digital asset market in the UAE and beyond.”

This puts the UAE ahead of the U.S., EU, and most of Asia on regulated dollar stablecoins. Source.

Robinhood Invests in Talos at $1.5B Valuation

Talos, the institutional digital asset trading platform, raised an additional $45 million in a Series B extension, bringing the round’s total to $150 million and valuing the company at $1.5 billion.

New strategic investors include Robinhood Markets and Sony Innovation Fund, alongside returning backers BNY, Fidelity Investments, and a16z crypto. IMC, QCP, and Karatage also joined. Many of the participating institutions are existing Talos clients and partners.

Talos initially raised $105 million in May 2022 at a $1.25 billion valuation, with backing from General Atlantic, Citi, Wells Fargo Strategic Capital, and others. Source.

Gulf Energy Exchange Launches World's First Oil-Backed Digital Asset

OIL1, a stablecoin backed by verified reserves of Gulf crude oil, was unveiled at Davos.

The digital asset will be pegged to both the U.S. dollar and Gulf crude oil prices, creating a bridge between the $2.4 trillion global oil market and the $260 billion stablecoin market. OIL1 will be issued by the Gulf Energy Exchange (GEX) in Bahrain, pending Central Bank approval.

The token will be built on Circle’s Arc blockchain and secured by Microsoft’s enterprise-grade cloud architecture. Reserves will include a diversified basket of USDC and USD1 to support liquidity and transparency.

“OIL1 combines the stability of the U.S. dollar with the intrinsic value of the Gulf’s most strategic natural resources,” said Andre Pienaar, CEO of C5 Capital, which led the funding consortium. “We are creating a secure, transparent, and globally trusted currency for the energy age.”

Tokenization is moving beyond bonds and equities into global commodities. Source.