First Digital introduces USD stablecoin

Today, First Digital Group announced the launch FDUSD, a USD stablecoin. The stablecoin is mined on Ethereum and BNB, with First Digital in talks with all major exchanges for listing, a spokesperson said in a statement.
According to First Digital, FDUSD is backed by high-quality reserves of cash and cash equivalents in regulated financial institutions in Asia and will be issued by First Digital Trust, a company registered under Hong Kong’s Trust Ordinance.

Statement from First Digital CEO

One of the requirements of Hong Kong’s Trust Ordinance is to keep all reserves in separate accounts, which prevents assets from commingling. According to Vincent Chok, CEO of First Digital, the launch of this stablecoin represents a major step forward in the company’s mission to provide a secure and efficient digital currency that helps with transactions of everyday people.

FOR MORE INFO: https://fincurrency.net/first-digital-introduces-usd-stablecoin