FDUSD has completed the first batch of redemptions, maintaining a 1:1 full backing

according to First Digital officials, in response to recent market FUD, FDUSD has completed the first batch of redemption requests, which can be viewed on-chain with the corresponding burn transactions.

The officials reiterated that FDUSD still maintains a 1:1 full backing, the redemption channel is running smoothly, and all redemption requests will continue to be processed promptly.