FDUSD is a USD-backed stablecoin fully collateralized by cash and cash equivalents. It was launched in 2023 by First Digital Trust, a qualified custodian based in Hong Kong. Unlike some earlier stablecoins, FDUSD was designed with a focus on regulatory compliance and institutional-grade custody, making it attractive to exchanges and large-scale users.
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FDUSD is a USD-backed stablecoin fully collateralized by cash and cash equivalents. It was launched in 2023 by First Digital Trust, a qualified custodian based in Hong Kong. Unlike some earlier stablecoins, FDUSD was designed with a focus on regulatory compliance and institutional-grade custody, making it attractive to exchanges and large-scale users.
FDUSD has quickly become important due to its integration with major exchanges like Binance, where it has been promoted as a core trading pair. This gives it instant liquidity and visibility among global traders. For institutions, FDUSD provides a regulated, transparent option based in Asia, where demand for compliant USD stablecoins is rising. Its backing by First Digital Trust also makes it attractive to users seeking stronger custody and compliance frameworks.
FDUSD is relatively new, which creates risks around long-term adoption and liquidity beyond exchanges like Binance. It also faces regulatory uncertainty since it is based in Hong Kong, where crypto regulations are still evolving. Finally, as a centralized stablecoin, FDUSD depends on the credibility of its issuer and custodians to maintain full backing.
Market cap
Over 3 billion USD in 2025
Issuer
First Digital Trust (Hong Kong)
Launch year
2023
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Questions?
Answers.
What is FDUSD?
FDUSD is a stablecoin pegged 1:1 to the U.S. Dollar, issued by First Digital Trust in Hong Kong.
Why is FDUSD popular on Binance?
FDUSD was promoted as a core trading pair on Binance, giving it strong liquidity and adoption among global traders.
Is FDUSD regulated?
FDUSD is issued by First Digital Trust, a qualified custodian, under Hong Kong’s evolving regulatory framework.
Can I redeem FDUSD for USD?
Yes. FDUSD can be redeemed 1:1 for U.S. Dollars through First Digital Trust.
Which blockchains support FDUSD?
FDUSD is available on Ethereum and BNB Chain, with plans for broader support.
Where can I spend FDUSD?
With Oobit, you can spend FDUSD anywhere Visa is accepted globally.
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