Fidelity’s FYMXX Fund Targets The Stablecoin Reserve Race
Fidelity is transferring deeper into the stablecoin infrastructure stack, not by issuing a token, however by focusing on the reserves behind them. The Fidelity Reserves Digital Fund, ticker FYMXX, is a cash market fund designed round property that stablecoin issuers might have for compliant reserve backing. The fund sits in conventional finance, holding devices equivalent…
