FDUSD First Digital USD Rank #127

First Digital USD (FDUSD) is a fiat-backed stablecoin issued by First Digital, a Hong Kong-based trust company established in 2019 that operates at the intersection of traditional and digital finance. The token is designed to maintain a 1:1 peg with the US dollar, with each unit fully collateralized by reserves held in cash and cash equivalents. These reserves are kept in segregated accounts with a registered trust company, structurally separate from the issuer's operational funds in a bankruptcy-remote arrangement intended to protect token holders. FDUSD is deployed across multiple blockchain networks, including Ethereum, BNB Chain, Arbitrum, Sui, and TON, making it accessible across several major ecosystems. The token is positioned as a low-cost, transferable digital dollar suitable for routine on-chain transactions, trading, and settlement activity. Holders are able to redeem their FDUSD for an equivalent amount of US dollars through the issuer, subject to its redemption process. By combining reserve-backed stability with cross-chain availability, FDUSD serves as a settlement and liquidity instrument for users navigating decentralized finance while anchoring its value to traditional currency holdings.