Yesterday, the $6 trillion asset manager Fidelity Investments announced it will launch a U.S. dollar-based stablecoin, FIDD, on Ethereum in the coming weeks.
This move positions Fidelity as the second global asset manager, after WisdomTree, to enter the stablecoin market. Similar to its competitor, FIDD is designed to complement an existing tokenized money market fund, pointing to a growing institutional appetite for moving efficiently between cash and yield on a 24/7 basis.
Notably, the announcement also highlights Fidelity’s intention to list FIDD on major exchanges. And while Tether likely won’t have to fear for its lunch on Binance and Bybit, it will certainly catch the eye of CME or ICE.
Today, we’ll take you behind the scenes of:
How Europe’s banks are building their crypto retail offering
Lloyd’s of London invests in risk infrastructure provider Circuit
🇬🇧 London calling: Next Wednesday (February 4), we’re coming to London for an exclusive evening on the key trends to watch in digital assets in 2026. There are only a couple of spots left. Join us!
HIGH SIGNAL NEWS
ECB plans to accept tokenized assets as collateral. As of March 30, 2026, tokenized securities will be eligible as collateral on the same basis as traditional securities, provided they are issued and settled through CSDs connected to TARGET2, the European interbank payment system. 🇪🇺
UBS plans to offer crypto trading for wealth clients. According to Bloomberg, the Swiss banking giant is currently selecting partners to launch the offering, initially targeting clients of its private bank in Switzerland. 🇨🇭
ING allows its retail clients to gain exposure to crypto assets. Last week, the Netherlands’ largest bank officially rolled out its offering through Bitcoin, Ethereum, and Solana ETNs. 🇳🇱
Zerohash is reportedly seeking to raise $250 million. The round would value the company at around $1.5 billion, according to CoinDesk. It follows Zerohash’s recent decision to turn down an acquisition offer from Mastercard. Founded in 2017, the company works with firms such as Franklin Templeton, BNY, and BlackRock, providing infrastructure that enables financial institutions and fintechs to offer crypto, stablecoin, and tokenization products. 🇺🇸
TOP STORY
From Full-Stack to Modular: How Banks Are Building Their Crypto Retail Offering
An accelerating trend: Over the past few months alone, several major European banks, including DZ Bank, KBC, and Groupe BPCE, have either announced or launched retail crypto offerings. Market participants consulted by Blockstories expect this momentum to accelerate significantly in 2026, as more European banks launch or expand retail crypto services.
Why it matters: Regulatory frameworks such as MiCA have helped legitimize crypto within banks, allowing digital assets to be treated as a standard financial product. It is also a defensive move. With direct visibility into retail money flows, banks can see how client funds are moving to crypto platforms, prompting them to view crypto more as a competitive necessity.
“Banks can clearly see how much money is being transferred from their own retail clients to crypto platforms. That has been a major trigger pushing them to act,” says Roman Schmidt, Chief Market Officer at tradias, one of Europe’s leading liquidity providers.
Another key driver lies in fee economics, as crypto trading can potentially generate higher fees than traditional products. “That’s something banks have also looked at very closely,” Schmidt adds.
Behind the scenes: To understand how this shift is playing out in practice, Blockstories spoke with several European banks as well as with Bitpanda Technology Solutions, Boerse Stuttgart Digital and tradias, three of the leading providers powering the crypto offerings of European banks today. Our condensed findings are presented below.
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