Fidelity is working with JPMorgan to use blockchain to solve their own multi-trillion-dollar problem: idle liquidity.

Fidelity International just put a Moody’s AAA-mf rated, $7B money market fund on Ethereum - live, operational, settling 24/7. The fund, Fidelity USD Digital Liquidity Fund (FILQ), was launched on May 6, 2026 and was rated by Moody’s on May 13.

Let’s unpack.