The Fidelity Digital Dollar reportedly deployed liquidity to both Curve Finance and Uniswap in a single Ethereum block Thursday evening, with an on-chain watcher flagging the move as the Fidelity-branded stablecoin's first foray onto permissionless DeFi rails.
LytninCrypto, an on-chain data tracker, posted the discovery Thursday, noting that the FIDD liquidity adder wallet set up Curve Finance Stableswap LP positions and Uniswap LP positions simultaneously. Curve founder Michael Egorov responded within six minutes. "Same block to both protocols, wow," Egorov wrote on X. "@Fidelity do know how to use DeFi!".
Fidelity Digital Assets has made no public statement specifically about the Curve or Uniswap deployment.
Fidelity Digital Assets, National Association, a federally chartered subsidiary of Fidelity Investments, issued FIDD in February. The stablecoin is backed 1:1 with cash and short-term US Treasuries, built on the ERC-20 standard on Ethereum, and designed for GENIUS Act compliance. Monthly reserve reports are published by the subsidiary on its website. Fidelity targets both institutional on-chain settlement and retail payments with the token.
The asset manager's blockchain trajectory has built steadily: Fidelity filed to tokenize an on-chain Treasury fund, runs both a spot Bitcoin ETF and a spot Ethereum ETF, and added staking to its Ethereum ETF application. FIDD extends that posture to active liquidity infrastructure.
