First Digital USD (FDUSD) is a fiat-backed US dollar stablecoin issued by First Digital Labs (Hong Kong). It has about $324M in circulation, ranking #28 among the stablecoins CoinScoop tracks, and runs on 5 blockchains.
FDUSD price
$0.9971
On peg Circulating supply
$324M
30-day change
-2.6%
Price
$0.9971
Blockchains
5
Tracked since
May 2023
What is FDUSD?
First Digital USD (FDUSD) is a fiat-backed US dollar stablecoin issued by First Digital Labs (Hong Kong). It has about $324M in circulation, ranking #28 among the stablecoins CoinScoop tracks, and runs on 5 blockchains.
In the issuer's words: Each FDUSD is intended to be fully backed by one US dollar or an asset of equivalent fair value.
FDUSD supply history
$865M$0
Oct 8, 2025Oct 8, 2026
$4.16B$0
May 27, 2023Oct 8, 2026
FDUSD supply fell 2.6% over the past 30 days, to $324M. Its peak was $4.04B in April 2024, and supply is 92% below that high.
Is FDUSD holding its peg?
Last price
$0.9971
Target
1.0000 USD
Status
On pegFDUSD is trading within 0.5% of its target, which is normal for a healthy stablecoin.
Where FDUSD lives: supply by blockchain
FDUSD is spread across several networks. The largest, Ethereum, holds 66% of supply. Check that the token on your chain is the issuer's official contract, not a bridged copy.
How FDUSD is backed
FDUSD is backed by cash and short-term US Treasuries.
Minting and redemption: To redeem your FDUSD stablecoin, you must first become a client of First Digital Labs and meet specific requirements, including Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) checks. Upon successful completion of these checks, you can exchange your FDUSD for its equivalent in fiat currency, thereby taking it out of circulation. Alternatively, you can sell your FDUSD tokens on the secondary market through a cryptocurrency exchange or an Over-the-Counter (OTC) provider that supports FD121's stablecoins.
FDUSD risks
Issuer and custody
Your claim is on the issuer and the banks or funds holding its reserves. A failure or freeze there can break the peg, as USDC briefly did in March 2023.
Freezes and blacklists
Fiat-backed issuers can usually freeze tokens at specific addresses, for example to comply with sanctions or court orders.
Bridged versions
Copies of a stablecoin moved by third-party bridges depend on those bridges. Prefer the issuer's native contract on each chain.
Regulation
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
FDUSD vs USDT and USDC
Similar fiat-backed stablecoins
See all →
FDUSD in the news
FDUSD FAQ
What is FDUSD?
First Digital USD (FDUSD) is a fiat-backed US dollar stablecoin issued by First Digital Labs (Hong Kong). It has about $324M in circulation, ranking #28 among the stablecoins CoinScoop tracks, and runs on 5 blockchains.
Is FDUSD pegged 1:1 to the US dollar?
FDUSD targets 1 USD. At the last update it traded at $0.9971, a deviation of -0.29%, which we classify as "on peg".
What backs FDUSD?
FDUSD is a fiat-backed stablecoin. Cash and short-term US Treasuries.
Which blockchains is FDUSD on?
FDUSD is live on 5 blockchains. The largest by supply are Ethereum ($215M), BSC ($58.0M), Sui ($43.6M).
How much FDUSD is in circulation?
About $324M of FDUSD was in circulation at the last update, -2.6% over 30 days. That makes it the #28 stablecoin by supply among those we track.
Does FDUSD pay interest?
No. FDUSD does not pay yield to holders directly. Any interest earned on its reserves goes to the issuer. Some platforms offer rewards for holding it, but those are paid by the platform, not by FDUSD.
Is FDUSD safe?
No stablecoin is risk-free. As a fiat-backed design, FDUSD's main risks are reliance on the issuer and its banks or custodians, how transparent the reserves are, the issuer's ability to freeze tokens, and regulatory action. It currently shows "on peg" on our peg monitor. This page is information, not investment advice.