Hong Kong-based stablecoin issuer First Digital Trust announced on October 30 that it is expanding its FDUSD token to the Solana network. This move comes as the company seeks to broaden its ecosystem after previously launching products on Ethereum and BNB Chain (formerly Binance Smart Chain).
In a statement on X, the team noted that Solana’s high transactional output makes it an “ideal solution for real-time payments and settlements.” They described the integration of FDUSD with Solana as part of a broader strategy to create a versatile and resilient stablecoin ecosystem. However, the exact launch date for FDUSD on Solana has not yet been disclosed.
“With support on Ethereum, BNB Chain, Sui, and soon Solana, FDUSD is more globally accessible and liquid than ever,” stated First Digital Trust.
Launched in 2023, FDUSD is issued under Hong Kong’s digital asset regulations and is backed by U.S. Treasury bills and bank deposits, ensuring its price remains pegged to $1. Alongside its availability on Ethereum and BNB Chain, FDUSD is also operational on the Sui Network.
Shortly after its debut, Binance began trading Bitcoin (BTC) and Ethereum (ETH) against FDUSD, attracting traders with zero fees. As a result, FDUSD quickly rose to become the fourth-largest stablecoin, following Tether’s (USDT), Circle’s (USDC), and MakerDAO’s (DAI), with a market capitalization exceeding $2.5 billion as of the latest reports.
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