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What is $FDUSD

First Digital (FDUSD) is a stablecoin issued by FD121 Limited, a subsidiary of Hong Kong-based financial firm First Digital Limited. Introduced in June 2023, the stablecoin is backed by one US dollar or assets of equivalent value held in reserves with its designated custodian, First Digital Trust Limited.

First Digital Trust Limited, registered as a trust company in Hong Kong, ensures that all FDUSD reserves are held in segregated accounts, preventing any overlap between these reserves and the company’s other assets. Reserves are held in the form of cash or highly convertible assets, ensuring that FDUSD is backed 1:1. A “Reserve Certificate” report is published regularly by the FDUSD issuer, and is audited by independent auditors to demonstrate that the FDUSD supply is fully backed by cash or its equivalent. FDUSD was launched on the Ethereum and BNB networks, with plans to launch it on other blockchains in the future, aiming to provide diversified options for users interested in stablecoins.