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Back to Stablecoins
First Digital USD
Rank #4FDUSDFiat-Backed

First Digital USD

Pegged to

USD

Market Cap

$2.70B

24h Volume

$5.00B

Circulating Supply

2.70B FDUSD

Total Supply

2.70B FDUSD

Peg Target

USD

Collateral Type

Fiat-Backed

Issuer

First Digital Labs

Launch Date

01-06-2023

About First Digital USD

First Digital USD (FDUSD) is a fiat-backed stablecoin issued by First Digital Labs, a Hong Kong-based financial technology company. Each FDUSD token is backed 1:1 by US dollars or equivalent assets held in segregated reserve accounts by a qualified custodian. FDUSD has gained significant traction on Binance, which adopted it as a primary trading pair after discontinuing BUSD. The stablecoin operates on Ethereum and BNB Chain and is frequently used in Binance's zero-fee trading promotions, making it one of the highest-volume stablecoins despite its relatively recent launch.

Supported Blockchains

Ethereum BNB Chain

Pros

  • High trading volume on Binance
  • Regulatory clarity under HK framework
  • Fast-growing market adoption
  • Zero-fee promotions drive liquidity

Cons

  • Heavily dependent on Binance ecosystem
  • Limited chain availability
  • Newer with less track record
  • Less DeFi integration than DAI/USDC

Key Features

1:1 USD reserve backing
Monthly reserve attestations
Hong Kong regulatory framework
Zero-fee trading pairs on Binance
Fast settlement on BNB Chain
Institutional custodian for reserves

Stablecoin Information

Category

Fiat-Backed

Collateral Type

Fiat-Backed

Issuer

First Digital Labs

Community & Socials

Website Twitter / X

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