Hong Kong-based stablecoin issuer First Digital Trust announced Thursday that it will expand its FDUSD token to the Solana network.
First Digital USD (FDUSD), the fourth largest stablecoin by market capitalization, issued by Hong Kong-based company First Digital Trust, after deploying its products on Ethereum and BNB Chain (formerly Binance Smart Chain). It appears in Solana, which is exploring new ecosystems.
https://twitter.com/FDLabsHQ/status/1851584677246886112
In an Oct. 30 announcement about X, the stablecoin’s development team said the selection was due to Solana’s trading track record, and that Solana is an “ideal solution for real-time payments and settlements.”
The team added that the upcoming integration of FDUSD and Solana is “part of a broader strategy to build a versatile and resilient stablecoin ecosystem.” However, the stablecoin issuer did not explain exactly when it will launch FDUSD on Solana.
“With support from Ethereum, BNB Chain, Sui, and soon Solana, FDUSD will become more globally accessible and liquid than ever before.”
first digital trust
FDUSD Expands Rapidly Across Blockchain Networks
Announced in 2023, FDUSD is issued under Hong Kong’s Digital Asset Regulations and is backed by US Treasury bills and bank deposits to peg the price at $1. In addition to Ethereum and BNB chains, FDUSD is also available on Sui Network.
Immediately after its launch, Binance began trading Bitcoin (BTC) and Ethereum (ETH) using FDUSD, attracting traders with zero fees. As a result, the stablecoin quickly became the fourth largest stablecoin behind Tether (USDT), Circle (USDC), and MakerDao (DAI), with a market capitalization of over $2.5 billion at the time of this article. did.
