Binance announced that it will list the new stablecoin First Digital USD (FDUSD) at 4 pm today and open trading pairs: BNB/FDUSD, FDUSD/BUSD, and FDUSD/USDT.
Since the stablecoin $BUSD was jointly sanctioned by US regulators, the cryptocurrency exchange Binance has been actively looking for alternative stablecoin brands. The first one it found was TrueUSD (TUSD). However, negative news about this stablecoin continued to surface, causing Binance to once again look for a new stablecoin FDUSD.
Binance announces listing of First Digital USD (FDUSD)
Binance announced that it will list the U.S. dollar stablecoin First Digital USD (FDUSD) at 16:00 Taiwan time on July 26. The trading pairs include: BNB/FDUSD, FDUSD/BUSD, and FDUSD/USDT.
Currently, the platform has opened FDUSD deposits, and withdrawals are expected to be opened at 16:00 on July 27, Taiwan time.
In addition, Binance will offer a promotion for FDUSD trading pairs with zero transaction fees. During the promotion, all users can enjoy zero transaction fees for all FDUSD spot trading pairs and any newly added FDUSD spot and margin trading pairs. The promotion deadline will be notified separately.
FDUSD is issued by Hong Kong-based First Digital Labs
According to the FDUSD official website, the issuer of First Digital USD (FDUSD) is FD121 Limited (full name First Digital Labs). Its parent company, First Digital Trust, is a qualified custody and trust company headquartered in Hong Kong. On June 1 this year, it officially announced the launch of a stablecoin pegged to the US dollar - FDUSD, which is regulated in Asia.
According to data, First Digital's earliest round of financing was in 2020, and it has completed three rounds of financing, totaling US$25.15 million. Participating institutions include Nogle and Kenetic Capital.
