Asia’s leading trust company and qualified custodian, First Digital, is making waves in the global financial ecosystem with the announcement of its new stablecoin, First Digital USD (FDUSD). Launched by FD121 Limited under the brand “First Digital Labs,” this novel stablecoin pledges to bring stability, diversification, and innovation to the existing financial landscape.
Stablecoins, digital currencies pegged to stable assets like the U.S. dollar, provide a hedge against volatility, a means of remittance, and a cost-effective gateway to financial services. With FDUSD, First Digital Group aims to enhance these benefits by offering a programmable stablecoin backed 1:1 by U.S. dollar reserves held in regulated Asian financial institutions.
First Digital Trust Limited, the custodian and trust company, will maintain FDUSD reserves in segregated accounts, ensuring a secure and robust financial framework for the stablecoin. Notably, the…
