Fidelity International USD Digital Liquidity Fund (FILQ-A, FILQ-D)
Ethereum FILQ-D: can freeze a holder, pause transfers, claw back, gate who may hold, mint, change the code.
Subscribers see which of their clients hold this program and whether each household qualifies under these terms, and Ketju emails them when the file changes. $299 per firm per month, first 30 days free.
The verdict is on the memo: Fidelity International USD Digital Liquidity Fund (FILQ-A, FILQ-D) Under review
Eligibility
Each answer quotes the issuer’s own words from the document named under it. Ketju reads each document again and records whether the words are still there. Where the documents say nothing, the row states that.
- What the holder owns
A share of USD Digital Liquidity Fund SP, a segregated portfolio of a Cayman Islands SPC.
“Fidelity International Strategies Funds SPC – USD Digital Liquidity Fund SP (FILQ) keeps cash working”
Fidelity International: FILQ landing page (Wayback Machine copy, 19 September 2026) · What is FILQ? · words found 2026-09-23
- Who may hold it
Professional investors only.
“Marketing Communication. Capital at risk. For professional investors only.”
Fidelity International: FILQ landing page (Wayback Machine copy, 19 September 2026) · Page header · words found 2026-09-23
- Who may hold it
Through an appointed distributor, after KYC and AML checks and wallet approval.
“Investors will be subject to standard checks, including KYC and AML, and their digital asset wallets must be approved and whitelisted before transacting, where access is available.”
Fidelity International: FILQ landing page (Wayback Machine copy, 19 September 2026) · FAQ, How can investors access FILQ? · words found 2026-09-23
- First purchase minimum
US $100,000 first investment.
“The minimum initial investment in FILQ is US $100,000.”
Fidelity International: FILQ landing page (Wayback Machine copy, 19 September 2026) · FAQ, What is the minimum investment size? · words found 2026-09-23
- Who it may be transferred to
Only approved, whitelisted wallets may subscribe, hold, or redeem.
“FILQ operates a permissioned token model. Only approved and whitelisted investor wallets may subscribe for, hold, or redeem fund tokens.”
Fidelity International: FILQ landing page (Wayback Machine copy, 19 September 2026) · FAQ, What token standard is used · words found 2026-09-23
- How a holder redeems
Outside London market hours, redemptions draw on liquidity facilities, not asset sales, and may be queued.
“Outside Market Hours, redemption requests are supported by available liquidity facilities (including cash buffers, credit facilities and repurchase arrangements) and not by portfolio liquidation.”
Fidelity International: FILQ landing page (Wayback Machine copy, 19 September 2026) · 24/7 Dealing and Liquidity Framework · words found 2026-09-23
- How a holder redeems
Redemptions settled outside market hours may cost 2 basis points of NAV a day.
“Redemptions settled Outside Market Hours may be subject to a redemption fee of 0.02% of Net Asset Value per day (2 basis points per day).”
Fidelity International: FILQ landing page (Wayback Machine copy, 19 September 2026) · 24/7 Dealing and Liquidity Framework · words found 2026-09-23
- Who keeps the official record
The transfer agent keeps the official register of shareholders and runs access control.
“Access control is administered by the fund’s transfer agent, with onboarding supported by appointed distributors. The transfer agent maintains the official register of shareholders and retains oversight of access and controls.”
Fidelity International: FILQ landing page (Wayback Machine copy, 19 September 2026) · FAQ, What token standard is used · words found 2026-09-23
- What the issuer says it can freeze or take back
The published pages do not describe freeze or forced-transfer powers, and we could not read the prospectus because its site blocks automated reads. On chain, the token contract has functions to blacklist, pause, burn, and force a transfer.
Not stated in Fidelity International: FILQ landing page (Wayback Machine copy, 19 September 2026), Apex Group: transfer agency for Fidelity International’s first tokenised product, Maples Group: advises on Fidelity International’s first tokenised liquidity fund, Fidelity International: Fidelity International Strategies Funds SPC prospectus, named by both tokens’ getTokenURI() (its site blocks automated reads).
| Fact | Answer |
|---|---|
| Who onboards the holder | distributor |
| Voting rights | None |
| Distributions | reinvested |
| SIPC coverage of the wallet | No |
Who controls it
Ketju read these powers from the deployed contracts and their verified source code: the token and every contract it checks on a transfer. A power listed here is something the issuer can do; it does not mean the issuer has used it.
| Token | Chain | Freeze a holder | Pause | Claw back | Gate holders | Change the code | Keys held by |
|---|---|---|---|---|---|---|---|
| FILQ-A | Ethereum | Yes | Yes | Yes | Yes | Yes | role-gated mint |
| FILQ-D | Ethereum | Yes | Yes | Yes | Yes | Yes | role-gated mint |
Ethereum FILQ-A: 2 contract reads, 6 functions in verified source, 2026-09-23
- eip1967.implementation=0x7030fe438be6ed196b8886616bbf5a245c267339
- isPaused()=false
- getPermissionManagerAddress in verified source 0x7030…7339
- blacklistTokenUser in verified source 0x7030…7339
- isPaused in verified source 0x7030…7339
- burn in verified source 0x7030…7339
- mint in verified source 0x7030…7339
- callUpgradeToAndCallUUPS in verified source 0x7030…7339
Ethereum FILQ-D: 2 contract reads, 6 functions in verified source, 2026-09-23
- eip1967.implementation=0x7030fe438be6ed196b8886616bbf5a245c267339
- isPaused()=false
- getPermissionManagerAddress in verified source 0x7030…7339
- blacklistTokenUser in verified source 0x7030…7339
- isPaused in verified source 0x7030…7339
- burn in verified source 0x7030…7339
- mint in verified source 0x7030…7339
- callUpgradeToAndCallUUPS in verified source 0x7030…7339
Where it trades
| Venue | Kind |
|---|---|
| Fidelity International appointed distributors and Apex Group | issuer primary |
Redemption
| Route | Settlement | Settles in |
|---|---|---|
| Redeem with the issuer in its window | Orders are taken 24/7 through the transfer agent or a distributor. Stablecoins are exchanged into dollars before investment and back on redemption. In market hours (1:00 a.m. to 9:00 p.m. London, Monday to Friday), settlement is near-immediate on confirmed funds. Outside them, redemptions draw on cash buffers, credit lines, and repo; they may cost 2 basis points a day and may be queued when those run short. In a stressed market, deals move from constant NAV to market NAV. | USD, USDC, PYUSD, RLUSD, FIDD |
- The prospectus becomes readable, or Fidelity International states who may hold, whether U.S. persons are barred, or the freeze and forced-transfer terms
- The implementation or permission manager of either token changes
- The fund queues redemptions, moves to market NAV, or adds chains
- Apex Group or J.P. Morgan is replaced
Daily checks
Every day Ketju reads each control function in the table above and the contracts the token checks on a transfer. Ketju compares the token’s on-chain supply with yesterday’s, and its market quote with yesterday’s quote, since a fund of this kind accrues a few basis points a day. Ketju also reads every document quoted above and reviews the file again if a quoted passage disappears from its document. Ketju counts a new, removed, or changed key as a change only when the chain’s own log shows the grant, revocation, or signer change since yesterday. If the log does not show it, Ketju updates the key list in this file and does nothing more. A change opens a review before any client action. Subscribers get an email that names each of their clients who hold the token, with the household result.
File history
Ketju has not revised this file since filing it. If Ketju revises it, the earlier version stays as published, with the reason.
| Date | Change |
|---|---|
| 2026-09-23 | Filed. |
Sources
- Fidelity International: FILQ landing page (Wayback Machine copy, 19 September 2026) · primary · accessed 2026-09-23
Supports: Cayman SPC segregated portfolio, CIMA regulated, Luxembourg manager, professional investors only, US $100,000 minimum, appointed distributors, whitelisted wallets, transfer agent keeps official register, Ethereum ERC-20, stablecoin subscriptions, 24/7 dealing framework, out-of-hours fee, stressed-market NAV, TER 0.50%, Etherscan links for both classes - Fidelity International: Fidelity International Strategies Funds SPC prospectus, named by both tokens’ getTokenURI() (its site blocks automated reads) · primary · accessed 2026-09-23
Supports: fund prospectus - Apex Group: transfer agency for Fidelity International’s first tokenised product · primary · accessed 2026-09-23
Supports: Apex transfer agent, wallet whitelisting - Maples Group: advises on Fidelity International’s first tokenised liquidity fund · primary · accessed 2026-09-23
Supports: Aaa-mf rating, CIMA registered, European AIFM, 24/7 liquidity - Ledger Insights: Fidelity International issues tokenized MMF with Sygnum · secondary · accessed 2026-09-23
Supports: Sygnum Desygnate platform, separate from FIUSD - RWA.xyz: FILQ asset page · secondary · accessed 2026-09-23
Supports: not available to U.S. persons (secondary), transfer agent entity