Introduction to FDUSD cryptocurrency
FDUSD (First Digital USD) is a stablecoin backed 1:1 by the US dollar, launched in June 2023 by the subsidiary FD121 Limited of the Hong Kong financial company First Digital Limited.
Main features:
- Stability: FDUSD aims to provide stability and trust to the volatile cryptocurrency market, with each FDUSD backed by $1 or equivalent reserves, ensuring value stability.
- Programmability: FDUSD is a programmable stablecoin that can execute financial contracts, custody services, and insurance without the involvement of third parties.
- Reserve system: The reserves of FDUSD are held by the designated custodian company First Digital Trust Limited, with separate reserve and custodian company operational accounts, ensuring the reserve funds of FDUSD are protected independently from the custodian company's other assets even in case of bankruptcy.
- Audit: The reserves of FDUSD undergo audits by independent auditing firms to ensure stability and credibility.
- Use cases: FDUSD can be used for cross-border transactions, remittances, payment solutions, providing fast, low-cost, and secure transfer services.
Summary: FDUSD is a stable, programmable stablecoin designed to provide stability and trust to the cryptocurrency market.
, suitable for various financial transaction scenarios.
