What is the current price of First Digital USD?
The current price of First Digital USD is $0.9986 with a 0.10% change in the last 24 hours.
First Digital USD is a fiat-backed stablecoin designed to hold a value of one US dollar. It is issued by FD121 Limited, which trades as First Digital Labs and belongs to the Hong Kong based First Digital group. Reserves are held by First Digital Trust Limited, a Hong Kong registered trust company, in segregated accounts separated from the issuer's operating funds. FDUSD is deployed on several public blockchains and is used mainly as exchange trading collateral and as a settlement asset.
Official resources:
FDUSD launched in June 2023 from First Digital, a Hong Kong custody and trust business that already operated as a digital asset custodian. Vincent Chok is publicly identified as its chief executive. The token went live first on Ethereum and BNB Chain and later expanded to Solana, Sui, Arbitrum and TON.
Approved institutional clients send US dollars to the issuer, which mints an equivalent number of tokens on a chosen chain, and redemption reverses that process. Ordinary holders buy and sell on exchanges rather than dealing with the issuer, so the peg depends in practice on arbitrage between that primary channel and secondary markets. The contract is a conventional ERC-20 style contract with issuer controls, typically including minting, burning and address freezing in response to legal orders.
The parts that matter are the issuing entity, the reserve custodian, the reserve portfolio, the periodic attestation reports, and the token contracts on each chain. Public reporting describes reserves as concentrated in short dated US Treasury bills, overnight reverse repurchase agreements collateralised by Treasuries, and bank cash, though composition changes between reporting periods.
FDUSD has no staking, governance or fee capture function. Its utility is the dollar exposure it represents: a quote asset on exchange order books, collateral and a pair asset in decentralised finance, and a settlement leg for over the counter trades.
Its jurisdiction and structure. Reserves sit with a Hong Kong trust company under local trust law rather than with a US money transmitter or an EU electronic money institution. Demand has come largely from its role as a trading pair asset on large exchanges, giving it a usage profile weighted toward centralised trading rather than payments.
Against Tether and USDC it is smaller, newer and concentrated in exchange trading, and its disclosure rests on trust arrangements and attestation rather than a US or EU issuance regime. Against a crypto collateralised stablecoin such as Dai, it has no on-chain collateral or liquidation machinery, so its risk is counterparty rather than contract and collateral risk.
Holding dollar value on an exchange between positions, providing liquidity in stablecoin pools, posting collateral in lending markets, settling transfers between venues, and hedging volatile exposure without returning to the banking system.
On chain, the token inherits the security of whichever network it is deployed on, and the contract has been subject to third party review. Off chain, safety depends on the reserve being real, liquid, segregated and available for redemption, which is evidenced by attestation rather than by cryptography. That is the central trust assumption of any fiat-backed stablecoin.
The main risks are issuer and custody risk, since holders rely on redemptions being honoured and reserves being intact. Attestation is not a full audit, and reports are periodic snapshots. In 2025 the token faced public allegations about its backing from TRON founder Justin Sun, which the issuer denied and answered with attestation disclosures. Other considerations include the issuer's ability to freeze balances, concentration of usage on a few venues, regulatory change, and contract risk on secondary deployments.
FDUSD is one of the few dollar stablecoins of scale anchored in Asia rather than the United States or Europe, and it showed that exchange distribution can build a large stablecoin float quickly. It also demonstrates how closely stablecoin demand tracks the incentives of the venues carrying it.
FDUSD is available on a number of centralised exchanges, where it often appears as a quote currency rather than only as a traded asset, and on decentralised exchanges on the networks where it is deployed. Availability varies by jurisdiction.
FDUSD can be held in any wallet supporting the network it was issued on, including standard Ethereum and BNB Chain software and hardware wallets. Confirm the correct contract address for that chain, since the same ticker exists on multiple networks and balances are not interchangeable across chains without a bridge.
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Read the complete paper trading guideThe current price of First Digital USD is $0.9986 with a 0.10% change in the last 24 hours.
The daily trading volume is $50,467,202 representing a 7.49% change in the past 24 hours.
The market capitalization of First Digital USD is $333,962,713, ranking #112 globally.
The fully diluted valuation (FDV) of First Digital USD is $333,962,713, calculated assuming the total supply of 334,420,598 FDUSD is in circulation.
Circulating: 334,420,598. Total: 334,420,598. Max: N/A.
In the last 24 hours, First Digital USD traded between a low of $0.9985 and a high of $1.00.
FDUSD/USDTTether USDT0.9986 USDT
