Hong Kong-based First Digital Group has announced the introduction of a new stablecoin that will be pegged to the United States Dollar but regulated in Asia.
The announcement comes shortly after Hong Kong announced the introduction of a new regulatory framework for digital assets in its jurisdiction.
The First Digital USD
The new stablecoin christened the “First Digital USD” or FDUSD, is intended to be backed on a 1:1 basis with the USD or an asset of equivalent fair value. First Digital also added that the reserves backing the stablecoin would be held in segregated accounts at different institutions in Asia. This is to prevent the co-mingling of assets. The FDUSD stablecoin will be backed by “high-quality reserves” and issued by the First Digital Trust, a trust company registered under Hong Kong’s Trust ordinance. The stablecoin has been issued on BNB and Ethereum, with the company in discussions with major exchanges for a listing. First Digital, in its statement, added,
We współpracy z: https://cryptodaily.co.uk/2023/06/first-digital-rolls-out-fusd-amid-hk-crypto-regulation
