First Digital USD(FDUSD)

Overview

First Digital USD (FDUSD) is a US dollar-pegged stablecoin issued by Hong Kong-based First Digital, launched in June 2023. The issuer states that each token is fully collateralized 1:1 by high-quality reserves consisting of cash and cash equivalents, held in segregated accounts. Holders can redeem FDUSD through the issuer for an equivalent value in US dollars.

FDUSD is issued across several public blockchains, including Ethereum, BNB Chain, and Solana, and supports transfers over these decentralized networks. The project highlights low transaction fees, fast settlement, and periodic reporting on reserve holdings as its main characteristics. It is commonly used as a trading pair on exchanges, within DeFi protocols, and for cross-border transfers as a unit of account and settlement medium.