First Digital
FDUSDHong Kong fintech firm offering digital asset custody and stablecoin services
Performances
RD Popularity Index
RD Growth Index
| 1h | 24h | 7d | 30d | 60d | 90d |
|---|---|---|---|---|---|
| 0.00% | 0.03% | 0.00% | 0.09% | 0.01% | 0.03% |
Comparison
Fundraising
Top Holders
| Address | Token | Quantity | Percentage | Value |
|---|---|---|---|---|
| Binance 8 (acec) |   FDUSD | 5,623,285.94 | 1.48% | $5.6M |
| 0x2a58...de5d | FDUSD | 4,174,852.72 | 1.1% | $4.16M |
| 0x4504...324e | FDUSD | 2,105,504.3 | 0.55% | $2.09M |
Open Markets
| # | Exchange | Pair | Price | +2% depth | -2% depth | Volume (24h) | volume % |
|---|---|---|---|---|---|---|---|
| 1 | GGroveXDEX | ETH/FDUSD | $0.997 | $18,248 | $8,686 | $35,815,882 | 21.99% |
| 2 | GGroveXDEX | SOL/FDUSD | $0.997 | $59,349 | $66,089 | $34,281,884 | 21.05% |
| 3 | GGroveXDEX | FDUSD/USDT | $0.997 | $1,912,959 | $2,545,867 | $19,691,776 | 12.09% |
| 4 | GGroveXDEX | BTC/FDUSD | $0.997 | $186,864 | $468,394 | $11,938,881 | 7.33% |
| 5 | GGroveXDEX | XRP/FDUSD | $0.997 | $60,778 | $60,063 | $10,156,315 | 6.24% |
| 6 | BBinanceCEX | FDUSD/USDT | $0.9968 | $3,595,068 | $4,835,949 | $8,139,160 | 5.00% |
| 7 | BBinanceCEX | ETH/FDUSD | $0.997 | $271,484 | $224,405 | $7,324,979 | 4.50% |
| 8 | BBinanceCEX | BTC/FDUSD | $0.997 | $5,399,539 | $1,761,987 | $6,903,293 | 4.24% |
| 9 | GGroveXDEX | ADA/FDUSD | $0.997 | $2,687 | $1,228 | $4,710,107 | 2.89% |
| 10 | BBTCCDEX | FDUSD/USDT | $0.997 | $23,290 | $21,127 | $4,070,004 | 2.50% |
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About First Digital
First Digital is a Hong Kong-based crypto financial institution whose core business includes issuing the USD-pegged stablecoin FDUSD and providing digital asset custody services through its trust arm. Its main competitiveness lies in compliance and transparency: FDUSD is backed by reserves audited by independent accounting firms, and the trust company holds a trust license in Hong Kong, giving it a relatively strong compliance advantage in the Asian market.
The market pain point it addresses is the high concentration of the stablecoin market, where institutions and users lack compliant and transparent alternatives beyond USDT and USDC. First Digital provides a regulated option, particularly for users who need to transact in the Asian time zone.
In the past six months (February to August 2026), First Digital has expanded FDUSD's application scenarios, including deeper integration with payment platforms and more DeFi protocols, while continuing to promote the use of its custody business among institutional clients. No major negative events were reported during this period, but the stablecoin market remains highly competitive, and its market share still faces pressure from leading players.
First Digital, founded in 2017 and headquartered in Hong Kong, is a licensed trust company providing digital asset custody and stablecoin issuance services. Its core product FDUSD, launched in June 2023, quickly became the second-largest USD stablecoin, backed by reserves including cash and US Treasuries. A key milestone occurred in September 2023 when Binance announced the migration from BUSD to FDUSD, completed by February 2024, making FDUSD the dominant stablecoin on Binance's ecosystem. This strategic partnership significantly expanded FDUSD's circulation and market influence. In terms of reserve transparency, First Digital publishes monthly reserve reports: the February 2025 report showed total reserve assets exceeding $2.05 billion, with US Treasury securities accounting for over 84%, demonstrating a conservative and compliant reserve strategy. The expansion to the Arbitrum network in 2025 marked another important step, extending FDUSD's presence beyond Ethereum and BNB Chain to Layer 2 solutions, enhancing its accessibility and utility in DeFi ecosystems. According to industry data, the four major USD stablecoin issuers collectively hold $182.4 billion in US Treasuries, surpassing the scale of South Korea and the UAE, highlighting the systemic importance of stablecoin issuers like First Digital in the global financial landscape. First Digital's development trajectory reflects the evolution from a traditional trust company to a digital asset infrastructure provider, with its stablecoin business playing an increasingly significant role in the crypto economy.
Vincent Chok: Founder & CEO of First Digital. Prior to founding, he was CEO of Legacy Trust Company, a Hong Kong-licensed trust firm, and held roles at Sprint Capital. He focuses on bridging traditional finance and digital assets.
Gunnar Jaerv: COO of First Digital. He has a background in technology and operations, previously serving as CTO at Welton OÜ and leading engineering teams. He is instrumental in building stablecoin infrastructure.
Aleck Lee: CFO of First Digital. He is a CPA with experience at PwC (Advisory Deals M&A) and Deloitte (Assurance). He holds an MSc in Economics & Strategy from Imperial College London and oversees financial strategy.