Hong Kong-Based Stablecoin Issuer First Digital Trust Expands Its FDUSD Token to the Solana Network

First Digital USD (FDUSD), the fourth largest stablecoin by market capitalization issued by Hong Kong-based firm First Digital Trust, is coming to Solana as it seeks new ecosystems after rolling out products on Ethereum and BNB Chain (formerly Binance Smart Chain).

Hong Kong-based stablecoin issuer First Digital Trust announced Thursday that its FDUSD token will soon be available on the Solana network.

First Digital USD (FDUSD), the fourth largest stablecoin by market capitalization and issued by Hong Kong firm First Digital Trust, is set to integrate with Solana as it seeks new ecosystems after rolling out products on Ethereum and BNB Chain (formerly Binance Smart Chain).

1/ FDUSD expands to Solana 🔥We’re thrilled to share that $FDUSD will be available on the @solana blockchain, bringing faster, more efficient transactions to our users and expanding our reach across the digital asset ecosystem. pic.twitter.com/e8vYCgUEeq

In an Oct. 30 announcement on X, the team behind the stablecoin said the selection was due to Solana’s transactional output, calling it an “ideal solution for real-time payments and settlements.”

The team added that FDUSD’s upcoming integration with Solana is a “part of our broader strategy to build a versatile, resilient stablecoin ecosystem.” However, the stablecoin issuer didn’t elaborate on when exactly it plans to launch FDUSD on Solana.

“With support on Ethereum, BNB Chain, Sui, and soon Solana, FDUSD is more globally accessible and liquid than ever.”

First Digital Trust

FDUSD quickly expands across blockchain networks

Unveiled in 2023, FDUSD is issued under Hong Kong’s digital asset rules and backed by U.S. Treasury bills and bank deposits to keep its price pegged to $1. In addition to Ethereum and BNB Chain, FDUSD is also available on Sui Network.

Shortly following its launch, Binance opened trading in Bitcoin (BTC) and Ethereum (ETH) with FDUSD, offering traders zero fees. As a result, the stablecoin quickly became the fourth-largest stablecoin behind Tether’s (USDT), Circle’s (USDC) and MakerDAO’s (DAI), amassing over $2.5 billion market capitalization, as of press time.