First Digital USD (FDUSD) is a fiat-backed stablecoin issued by FD121 Limited, a subsidiary of First Digital Group Limited (FDG). FDUSD is fully collateralised on a 1:1 basis with the U.S. dollar or assets of equivalent fair value, ensuring stability and trust. The stablecoin operates under rigorous custodial arrangements with reserves held by First Digital Trust Limited, a qualified custodian, in segregated accounts​.

The reserves consist of U.S. dollars and highly liquid assets, such as short-term U.S. Treasury bills, managed by regulated financial institutions and subject to independent audits, ensuring full backing and transparency.

Initially launched on Ethereum (ERC-20) and BNB Chain (BEP-20), FDUSD has expanded to the Sui blockchain, leveraging its scalability and high-performance infrastructure for efficient transactions​. FDUSD smart contracts are audited by PeckShield, enhancing transparency and security​.

FDUSD can be acquired directly by key industry players, financial intermediaries, and professional investors who meet the requirements of First Digital Labs. Retail users can purchase FDUSD via secondary markets such as leading cryptocurrency exchanges, which provide ample liquidity​.

FDUSD serves multiple purposes across the digital economy and decentralised finance (DeFi) ecosystems due to its stability, transparency, and programmability:

• Cross-border Remittances: Facilitates low-cost, efficient international payments compared to traditional financial systems.
• Payment Solutions: Enables merchants to accept FDUSD for goods and services, reducing transaction fees and processing times​.
• Decentralised Finance (DeFi): Can be used for lending, borrowing, and liquidity mining, offering users yield-generating opportunities​.
• Escrow Services and Smart Contracts: FDUSD's programmability supports trustless escrow agreements and automated financial contracts.
• Hedging Against Volatility: Provides a stable store of value during market volatility, offering traders a safe haven​.
• Financial Inclusion: Enables access to essential financial services, such as savings, loans, and insurance, in underdeveloped financial markets​.

First Digital USD (FDUSD) is issued by FD121 Limited, a subsidiary of First Digital Group Limited (FDG), a Hong Kong-based public trust firm specialising in digital assets and technology-driven financial services. Established in 2019, FDG combines traditional financial services with digital asset solutions, offering cross-asset custody, trustee, escrow, and agency services to bridge the gap between conventional and digital finance.

The leadership team includes:

• Vincent Chok, Chief Executive Officer (CEO): Vincent leads the company in developing traditional trust and custody solutions for the digital economy, aiming to provide enhanced security and professionalism for clients with digital asset exposure.
• Gunnar Jaerv, Chief Operating Officer (COO): Gunnar brings expertise in product development and blockchain technology, overseeing operational infrastructure, partnerships, and revenue growth strategies.