Despite market conditions, January was a jam packed month for the progression of stablecoins. Here are the moves by institutions and native crypto players that caught our eye. 👇 - @DigitalAssets has launched the Fidelity Digital Dollar (FIDD), a USD-backed stablecoin for its retail and institutional clients. The investment firm is one of the world’s largest asset managers with over $4.5T in assets under management. - @tether has launched @USAT, a dollar-backed stablecoin, issued by @Anchorage Digital Bank. - @Circle has released a crosschain forwarding service that automates USDC transfers, removing the need for custom infrastructure, and lowering integration costs such as destination gas. - @BitwiseInvest launched its first non-custodial onchain vault with @Morpho, targeting up to 6% APY on stablecoins through programmatic lending strategies. The offering introduces professional portfolio and risk management to DeFi yield products. - The UAE Central Bank approved USDU, the country’s first USD-backed stablecoin, issued by Universal Digital and backed by local banks. - The number of stablecoin transfers on @Ethereum reached record highs in January, reaching 27.7 million. Daily stablecoin transfer growth indicates increased usage of the asset for actions like payments, trading and settlement. The trend points to increasing onchain liquidity and broader use of stablecoins as a settlement layer.