First Digital Group has debuted its own stablecoin.
The stablecoin is issued on both Ethereum and BNB.
First Digital, a prominent qualified custodian and registered trust company based in Hong Kong, has recently unveiled its latest innovation: the introduction of new stablecoin known as First Digital USD (“FDUSD”).
Vincent Chok, CEO of First Digital, stated:
The launch of this stablecoin represents a major stride forward in our mission to provide a secure and efficient digital currency that can be seamlessly integrated into everyday transactions.
As per reports, the stablecoin has been launched on two prominent platforms, Ethereum and Binance Smart Chain (BNB), providing users with flexible options for utilizing the digital asset. According to First Digital, FDUSD is backed by a robust reserve of cash and cash equivalents held in regulated financial institutions across Asia. The issuance of the stablecoin will be facilitated by First Digital Trust, a registered trust company operating under Hong Kong’s Trust Ordinance.