FDUSD Stablecoin Expands to Solana for Faster Transactions
With Solana joining Ethereum, BNB Chain, and Sui, First Digital strengthens its commitment to fast, secure, and affordable stablecoin transactions across ecosystems.
First Digital Group, a prominent player in digital asset custody and trust services across Asia, has announced that its stablecoin, FDUSD (First Digital USD), will be integrated into the Solana blockchain.
This strategic move, revealed at Binance Blockchain Week 2024, is part of First Digital’s broader vision to improve FDUSD’s accessibility, speed, and cost-effectiveness for global users.
As Solana joins Ethereum, BNB Chain, and Sui in the list of blockchains supporting FDUSD, this deployment further strengthens First Digital’s commitment to providing fast, secure, and affordable stablecoin transactions across multiple ecosystems.
Vincent Chok, CEO and Founder of First Digital emphasized that this deployment on Solana aligns with the group’s mission to broaden FDUSD’s reach and utility.
“Expanding FDUSD onto Solana represents a significant step in our mission to enhance its accessibility, availability, and utility across multiple blockchain ecosystems,” Chok stated, adding that Solana’s robust infrastructure will enable faster and more efficient transactions across various financial applications.
Lily Liu, President of the Solana Foundation, expressed enthusiasm for the collaboration, highlighting how the integration of FDUSD on Solana can drive real-world, on-chain financial innovations. This is expected to open new possibilities for DeFi projects, cross-border payment solutions, and other financial applications that rely on stable, fast, and scalable digital transactions.
FDUSD, issued by First Digital Labs under FD121 Limited, is fully backed 1:1 by USD or equivalent assets. Reserves are held in accounts with regulated financial institutions, and monthly independent audits ensure transparency and stability, building trust among global users who depend on FDUSD for secure, compliant transactions.
By adding Solana, First Digital positions FDUSD as a versatile stablecoin suited for both established and emerging markets, supporting a growing demand for cross-chain stablecoin solutions.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Announcement of Bitget spot bot on adding 2 new trading pairs
We are pleased to announce that Bitget spot bot has now added: KOMA/USDT, AIXBT/USDT. Reference 1. Spot grid 2. Crash course on Spot Grid Disclaimer Despite high growth potential, cryptocurrencies still face high risks and volatility. You are strongly advised to do your own research as you invest a
Groundbreaking and Affordable: Why These Cryptos Under $1 Are Gaining Traction
Four High-Yield Altcoins to Watch as They Outshine in a Bear Market
Golden Cross and Cup & Handle Predict Major Upside for JASMY