BNB Chain Facilitates the Launch of Hong Kong-Based First Digital’s Stablecoin

• First Digital Group has debuted its own stablecoin.
• The stablecoin is issued on both Ethereum and $BNB.

First Digital, a prominent qualified custodian and registered trust company based in Hong Kong, has recently unveiled its latest innovation: the introduction of new stablecoin known as First Digital USD (“$FDUSD”).

Vincent Chok, CEO of First Digital, stated:

The launch of this stablecoin represents a major stride forward in our mission to provide a secure and efficient digital currency that can be seamlessly integrated into everyday transactions.

As per reports, the stablecoin has been launched on two prominent platforms, Ethereum and Binance Smart Chain ($BNB), providing users with flexible options for utilizing the digital asset. According to First Digital, $FDUSD is backed by a robust reserve of cash and cash equivalents held in regulated financial institutions across Asia. The issuance of the stablecoin will be facilitated by First Digital Trust, a registered trust company operating under Hong Kong’s Trust Ordinance.

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