First Digital USD (FDUSD) is a 1:1 USD-backed stablecoin issued by a distinct entity, FD121 Limited in Hong Kong, operating under the brand name of First Digital Labs.
FDUSD offers users a reliable digital currency aimed at reducing volatility in the cryptocurrency market, enhancing the efficiency of financial transactions by lowering transaction costs and offering faster, more secure transactions. FDUSD is a programmable stablecoin enabling the execution of financial contracts, escrow services, and insurance without intermediaries.
FDUSD can always be redeemed 1:1 to US dollars. FDUSD reserves are held in segregated bank accounts that are monitored and audited by independent third-parties such as Prescient Assurance.
FDUSD is available on Ethereum and BNB Chain with planned support for an increasing number of blockchains.