What is First Digital USD?

FDUSD launched in 2023 after Binance's pivot away from BUSD. First Digital Trust holds reserves at custodian banks under HK regulation. Binance lists FDUSD with zero-fee trading on most spot pairs, making it the dominant volume stablecoin on the exchange.

FDUSD chain footprint

First Digital USD is currently deployed on 5 chains with the largest balance on Ethereum (64.6% of supply). Mechanism: Fiat-backed. Live circulating supply is $406.27M, with a 24h change of -1.54% and 30d change of 2.03%.

FDUSD risks and peg history

FDUSD's peg has held but the issuer is much smaller and less audited than Circle or Tether. Concentration risk on Binance is severe — the vast majority of FDUSD supply sits on Binance's books. Hong Kong's stablecoin regulatory regime (2024+) introduces issuer licensing requirements that FDUSD will need to maintain.

Frequently Asked Questions

Who issues FDUSD and is it regulated?

FDUSD is issued by First Digital Labs, a subsidiary of First Digital Trust based in Hong Kong. First Digital Trust is a registered HK trust company, and FDUSD will fall under the Hong Kong Monetary Authority's stablecoin licensing regime introduced in 2024.

Why is FDUSD so popular on Binance?

After regulators forced Binance to wind down BUSD, the exchange adopted FDUSD as its preferred stablecoin and offered zero-fee trading on most BTC and ETH spot pairs. That subsidy drives the bulk of FDUSD usage and concentrates supply on Binance.

Is FDUSD attested?

Prescient Assurance issues monthly attestations confirming reserves are held in cash and short-dated US Treasuries at custodian banks. This is a step below a full Big Four audit but in line with most non-USDC stablecoins.

What chains does FDUSD support?

FDUSD is primarily issued on BNB Chain and Ethereum. Bridging is available to Solana, Arbitrum, Aptos, and Sui via partnered bridge protocols.