Hong Kong-based eligible custodian and belief firm First Digital Group has introduced the launch of its US dollar-pegged stablecoin First Digital USD (FDUSD) on June 1. The brand new stablecoin is alleged to be programmable and able to executing contracts. Escrow service and insurance coverage with out intermediaries. Works on BNB good chain.

FDUSD is issued by First Digital Labs, a subsidiary of First Digital Belief, a digital asset administration firm regulated below the Hong Kong Trustees Ordinance. Underneath the Act, FDUSD shall be backed 1:1 with US greenback reserves or liquid prime quality belongings held by regulated Asian monetary establishments and can’t be combined with different First Digital belongings.

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