FDUSD Specifications

Type

TOKEN

Algorithm

Ethash

Protocol

POS

Start Date

25/06/2023

Max Supply

Circ. Supply

1,795,481,183

Website

Explorer

Social Media

Info

First Digital USD (FDUSD) is a stablecoin introduced in June 2023 by FD121 Limited, a subsidiary of Hong Kong-based First Digital Limited. Pegged 1:1 to the U.S. dollar, FDUSD is fully backed by equivalent reserves held by First Digital Trust Limited. It operates on the Ethereum and BNB Chain networks, facilitating seamless transactions and token swaps within the decentralized finance (DeFi) ecosystem.

Market Impact

FDUSD has emerged as a notable player in the stablecoin market, offering an alternative to established stablecoins like USDT and USDC. Its integration into various DeFi platforms has enabled users to engage in token swaps and other financial activities with reduced volatility. The availability of FDUSD on major exchanges has enhanced its liquidity, reinforcing its role as a reliable medium of exchange in the digital asset landscape.

History

Launched to provide a secure and transparent stablecoin option, FDUSD emphasizes regulatory compliance and robust backing. Its reserves are held in segregated accounts, ensuring transparency and trust. Since its inception, FDUSD has gained traction in the crypto community, with its market capitalization increasing significantly, reflecting growing adoption and confidence among users.

Features

Full Reserve Backing
Each FDUSD token is fully backed by U.S. dollars or equivalent assets, ensuring stability and trust for users.
Multi-Chain Compatibility
Deployed on both Ethereum and BNB Chain, FDUSD facilitates seamless transactions and token swaps across different blockchain networks.
Regulatory Compliance
Issued by a Hong Kong-based financial firm, FDUSD adheres to stringent regulatory standards, providing transparency and security for its users.

Website

Explorer

Social Media

*The indicators above, do not represent an investment advice and should not be treated as such. Please make your own research and risk assessment before exchanging your assets.