FDUSD, or First Digital USD, is a stablecoin pegged to the US dollar, aiming to provide a less volatile digital asset for users. Launched in 2023, it operates on multiple blockchain networks like Ethereum and Binance Smart Chain, facilitating its use across various decentralized applications (DeFi). FDUSD is backed by reserves held in cash and cash equivalents, with regular audits intended to ensure its 1:1 peg with the dollar. Its use cases include trading, remittances, and as a stable store of value within the cryptocurrency ecosystem, offering lower fees and faster transaction times compared to traditional financial systems.
