First Digital USD
(ID=1048805084)
(#FDUSD ) is a reserve-backed stablecoin launched in June 2023 by Hong Kong-based First Digital Limited’s subsidiary FD121 Limited. FDUSD aims to provide a stable digital medium equivalent to the US dollar at a ratio of 1:1, which helps reduce the volatility of the cryptocurrency market and facilitate financial transactions.
Key Features of FDUSD:
• Backing and Reserves: First Digital Trust Limited, as the custodian, holds FDUSD reserves in segregated accounts, ensuring that they are not mixed with other assets. Reserves are held in cash or highly liquid assets, ensuring that the currency is backed at a ratio of 1:1. 
• Auditing and Transparency: The issuer regularly publishes “Proof of Reserve” reports, which are audited by independent auditors, to ensure that the FDUSD supply is fully backed by cash or its equivalent. 
• Availability on networks: FDUSD was launched on the #Ethereum and #BNB走势 blockchains, with plans to expand to other blockchains in the future, to provide users with broader options
