About First Digital USD (FDUSD)
FDUSD is a 1:1 USD-backed stablecoin issued by FD121 Limited, a distinct entity operating under the brand name of First Digital Labs, located in Hong Kong.
The primary objective of FDUSD is to provide users with a reliable digital currency that mitigates volatility in the cryptocurrency market. By achieving this, it aims to enhance the efficiency of financial transactions by reducing transaction costs and offering faster, highly secure transactions.
One of the key features of FDUSD, as per their website, is its programmable nature, which enables the execution of various financial contracts, escrow services, and insurance without the need for intermediaries. This programmability brings added flexibility and efficiency to financial operations involving FDUSD.
FDUSD is redeemable for US dollars at a 1:1 ratio, and its reserves are securely held in segregated bank accounts, subject to monitoring and audits conducted by independent third-parties like Prescient Assurance.
The live price of First Digital USD (FDUSD) is updated and available in real time on Binance.