FDUSD Stablecoin Launches in Hong Kong Amid New Asset Trading Guidelines

FDUSD Stablecoin Launches in Hong Kong Amid New Asset Trading Guidelines



First Digital, a trust company and qualified custodian based in Hong Kong, has announced the launch of its new stablecoin called First Digital USD (FDUSD). FDUSD is pegged to the U.S. dollar and operates under regulation in Asia. The unveiling of this stablecoin aligns with the introduction of a fresh regulatory framework for digital assets in Hong Kong.



The primary objective of FDUSD, as stated in a press release, is to offer a stable and dependable digital currency amidst the volatile crypto market. The tokens of FDUSD are backed by high-quality reserves consisting of cash and cash equivalents. The intention is to ensure that FDUSD tokens can be redeemed on a 1:1 basis for U.S. dollars or other assets of equivalent fair value.



First Digital, being a registered company under Hong Kong's Trust Ordinance, has the obligation to


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#Adoption, #Altcoin, #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Ethereum, #FDUSD, #FirstDigital, #News, #Regulations

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