FDUSD
First Digital USD
active
Fiat Backed
USD
Market Cap $339M
First Digital USD (FDUSD) is a fiat-backed stablecoin pegged to the U.S. dollar, ensuring a 1:1 redemption ratio.
Key Data
| Backing | Fully backed by cash and cash equivalents, including U.S. Treasury Bills, cash, bank deposits, and reverse repos. |
| Reserve Reporting | Monthly |
| Redemption | FDUSD tokens are redeemable 1:1 for U.S. dollars, with services available to eligible clients meeting AML and CTF checks. |
| KYC Required | Yes |
| Peg Currency | USD |
| Launched | 2023 |
Supported Networks
Cross-Chain Supply (DefiLlama · $339M total)
Use Cases
TradingPayments
Overview
First Digital USD (FDUSD) is a stablecoin issued by First Digital Labs, a subsidiary of First Digital Trust. It is pegged to the U.S. dollar and actively traded in the crypto market.
How It Works
FDUSD maintains its peg through full backing by cash and cash equivalents, allowing for 1:1 redemption with the U.S. dollar.
Reserve Backing
FDUSD's reserves are composed of U.S. Treasury Bills, cash, bank deposits, and reverse repos, with monthly attestations by independent auditors.
Supported Networks
FDUSD is available on multiple blockchain networks, including Ethereum, BNB Chain, Sui, Solana, Arbitrum, and The Open Network (TON).
Other USD Stablecoins
Data source: CoinGecko ↗