FDUSD (First Digital USD) is a 1:1 USD-backed stablecoin issued by FD121 Limited, operating under the brand name of First Digital Labs.
FDUSD offers users a reliable digital currency aimed at reducing the impact of volatility in the cryptocurrency market, enhancing the efficiency of financial transactions by lowering transaction costs, and offering faster, more secure transactions. FDUSD is a programmable stablecoin enabling the execution of financial contracts, escrow services, and insurance without intermediaries.
FDUSD is backed by high-quality reserves - cash and cash equivalents, meaning that users can redeem their FDUSD tokens for their equivalent value in US dollars. Users can trust that FDUSD is always 1:1 backed. This underscores First Digital’s commitment to operating in a transparent and secure manner, providing users with increased trust and confidence in the stability of the stablecoins.
FDUSD’s reserve account is audited by independent third parties such as Prescient Assurance, whose attestation reports will be publicly shared every month. Users can visit First Digital Labs' official website for the latest reserve details.