First Digital Group, a Hong Kong-based certified custodian and belief firm, introduced the launch of its First Digital USD (FDUSD) Stablecoin pegged to the US greenback on June 1. The brand new stablecoin is programmable and described as having the ability to execute contracts, escrow companies and insurance coverage with out intermediaries. It’ll work on the BNB good channel.
FDUSD is issued by First Digital Labs, a subsidiary of digital asset custodian First Digital Belief, which is regulated below the Hong Kong Trustees Ordinance. By legislation, FDUSD will likely be backed one-to-one by US greenback reserves or extremely liquid, high-quality belongings held in regulated Asian monetary establishments that can’t be co-mingled with different First Digital belongings.
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