📌𝗖𝗟𝗔𝗜𝗠 𝗙𝗥𝗘𝗘 𝗨𝗣𝗧𝗢 𝟭𝟬$ 𝗨𝗦𝗗𝗧/𝗣𝗘𝗣𝗘 𝗖𝗢𝗜𝗡 𝗥𝗘𝗪𝗔𝗥𝗗 𝗙𝗥𝗢𝗠 𝗠𝗬 𝗧𝗪𝗢 𝗣𝗜𝗡𝗡𝗘𝗗 𝗣𝗢𝗦𝗧𝗦💰💰...

[Binance’s main stablecoin is diversifying into other exchanges]
FDUSD has become the fourth largest stablecoin in the world by market capitalization and is almost exclusively traded on Binance. However, due to the lack of other application scenarios, FDUSD is relatively less well-known. Hong Kong publisher First Digital Labs is expanding the application scope of FDUSD through cooperation with Sui, and its CEO revealed this plan in an interview with Blockworks.

The history of FDUSD begins in 2023, when Binance began its search for a new major stablecoin after the SEC issued a Wells Notice to Paxos to stop minting BUSD. Thereafter, FDUSD took over BUSD's position for a short time, and for a time it was shared by TUSD. Binance has promoted users to convert BUSD balances to FDUSD and included FDUSD in its free trading promotions and new token issuance pools.

Currently, FDUSD trades are almost exclusively on Binance, largely thanks to Binance’s zero maker and taker fee promotions. However, with FDUSD set to become a native stablecoin on the Sui blockchain, First Digital Labs is looking to further diversify into other exchanges and use cases.
First Digital CEO Vincent Chok said the company is exploring the possibility of using FDUSD for cross-border payments and is in talks with multiple Layer2s, with plans to launch an FDUSD-based payroll partnership program by the end of this year. With Hong Kong about to implement a stablecoin issuer regime, First Digital is also communicating with local regulators.

#鴉快訊  $FDUSD @Binance