TechFlow News, First Digital, a licensed trust company in Hong Kong, has launched a dollar-pegged stablecoin called First Digital USD (FDUSD) on the BNB Smart Chain.
The stablecoin will be pegged to the US dollar and regulated in Asia. The issuance of FDUSD will be handled by FD121 Limited, a subsidiary of First Digital Limited.
According to the company, the reserves backing FDUSD will be held in independent accounts at Asian institutions. Additionally, FDUSD is programmable and capable of executing financial contracts, custodial services, and insurance without third-party involvement.
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