First Digital Group, a prominent player in digital asset custody and trust services across Asia, announced that its stablecoin FDUSD (First Digital USD) will be integrated into the Solana blockchain.
This strategic move, unveiled at Binance Blockchain Week 2024, is part of First Digital’s broader vision to improve the accessibility, speed, and cost-effectiveness of FDUSD for users around the world.
Solana joins Ethereum, BNB Chain, and Sui in the list of blockchains that support FDUSD, and the introduction furthers First Digital’s commitment to providing fast, secure, and affordable stablecoin transactions across multiple ecosystems. It will be further strengthened.
Vincent Chok, CEO and Founder of First Digital, emphasized that this development in Solana is in line with the group’s mission to expand the reach and utility of FDUSD.
“Extending FDUSD to Solana represents an important step in our mission to enhance the accessibility, availability, and utility of FDUSD across multiple blockchain ecosystems,” said Chok. ‘s robust infrastructure will enable faster and more efficient transactions across various financial applications, it added.
Solana Foundation Chairman Lily Liu expressed her enthusiasm for this collaboration and highlighted how the integration of FDUSD into Solana can drive real-world on-chain financial innovation. This is expected to open new possibilities for DeFi projects, cross-border payment solutions, and other financial applications that rely on stable, fast, and scalable digital transactions.
FDUSD is issued by First Digital Labs under FD121 Limited and is fully backed on a 1:1 basis by USD or equivalent assets. Reserves are held in accounts at regulated financial institutions, and monthly independent audits ensure transparency and stability among users around the world who rely on FDUSD for safe and compliant trading. Trust is built.
With the addition of Solana, First Digital positions FDUSD as a versatile stablecoin suitable for both established and emerging markets, supporting the growing demand for cross-chain stablecoin solutions.
Also Read: Basetop Stablecoin Trading, Market Share 30.06%
