First Digital USD

Can this project keep operating and funding itself for years?

Reserves are held in bankruptcy-remote Hong Kong trust accounts, though circulating supply contracted from $2.05 billion to 304.6 million FDUSD in October 2026.12

Can outsiders see and check what the team and the protocol do?

First Digital Labs publishes monthly Prescient Assurance reserve attestations detailing US Treasury bill maturities, cash balances, and reverse repos.34

Does the protocol earn real fees or income from use?

FD121 Limited earns interest income on short-dated US Treasury bills and cash deposits backing roughly $304 million in circulating FDUSD.35

Is the technology being built and shipped, and does it matter?

Native multi-chain issuance spans Ethereum, BNB Chain, Solana, Arbitrum, Sui, and TON alongside OpenPayd SWIFT and SEPA settlement rails.16

Who uses, builds and holds it, and how durable is that base?

Adoption remains heavily concentrated on Binance spot trading pairs, with limited decentralized finance lending or retail wallet usage.25

Do supply, issuance and unlocks protect holders from dilution?

Each FDUSD is backed one-for-one by segregated US Treasury bills and cash deposits with institutional mint and redemption mechanics.34

1. 1firstdigitallabs.com/fdusdCited for Sustainability, Innovation
2. 2defillama.com/stablecoin/first-digital-usdCited for Sustainability, Community
3. 3firstdigitallabs.com/transparencyCited for Transparency, Revenue, Tokenomics
4. 4etherscan.io/token/0xc5f0f7b66764F6ec8C8Dff7BA683102295E16409Cited for Transparency, Tokenomics
5. 5coingecko.com/en/coins/first-digital-usdCited for Revenue, Community
6. 6bscscan.com/token/0xc5f0f7b66764F6ec8C8Dff7BA683102295E16409Cited for Innovation

• Monthly Prescient Assurance attestations verify 1:1 backing across short-dated US Treasury bills, bank deposits, and reverse repos.
• Reserves sit in segregated, bankruptcy-remote accounts at Hong Kong TCSP-licensed custodian First Digital Trust Limited.
• Maintains dollar peg stability through a contraction from its $2.05 billion Q1 2026 peak to roughly 304.6 million tokens in October 2026.
• OpenPayd integration provides USD SWIFT and EUR SEPA institutional settlement rails alongside Canza Finance emerging-market B2B corridors.
• Native multi-chain deployments span six networks including Ethereum, BNB Chain, Solana, Arbitrum, Sui, and TON.

• Circulating supply contracted to roughly 304.6 million FDUSD in October 2026 from $2.05 billion in Q1 2026 after Binance fee adjustments.
• Secondary trading volume remains heavily concentrated on Binance spot order books rather than diversified decentralized finance protocols.
• The unresolved legal dispute with Justin Sun and Hong Kong High Court defamation action HCA 680 create ongoing reputational risk.
• MiCA non-compliance restricts European Economic Area access while proposed US GENIUS Act rules tighten oversight on offshore issuers.
• Prescient Assurance monthly attestations offer narrower audit scope than Big Four accounting examinations used by larger regulated peers.

First Digital USD holds roughly 0.1% of the global USD stablecoin sector with about 304.6 million tokens circulating in October 2026. Tether (USDT) and Circle (USDC) control over 80% of dollar stablecoin liquidity across exchanges and decentralized finance.

As of October 22, 2026, First Digital USD maintains its one-dollar peg backed by segregated US Treasury bills and cash reserves in Hong Kong trust custody. Circulating supply has contracted to roughly 304.6 million FDUSD from its $2.05 billion Q1 2026 peak following exchange fee changes.