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

Community & Socials

Website Twitter / X