First Digital Group, a professional securities custody and belief firm primarily based in Hong Kong, on June 1. introduced the launch of its First Digital USD (FDUSD) USD-pegged stablecoin. The brand new stablecoin is programmable and described as able to executing contracts. escrow companies and insurance coverage with out intermediaries. It’ll run on the BNB good chain.
FDUSD is issued by First Digital Labs, a subsidiary of digital asset custodian First Digital Belief, which is regulated beneath the Hong Kong Trustee Ordinance. By legislation, FDUSD might be backed one-for-one by US greenback reserves or extremely liquid, high-quality belongings held at regulated Asian monetary establishments, which can’t be commingled with different First Digital belongings.
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