TechFlow News — First Digital Trust, a Hong Kong-based stablecoin issuer, said Wednesday it is expanding its $3 billion FDUSD token, pegged to the U.S. dollar, to the Sui blockchain, following availability on Ethereum and BNB Chain.
Vincent Chok, CEO of First Digital, told CoinDesk the expansion is part of the company's efforts to increase FDUSD adoption among decentralized finance (DeFi) users.
Issued under Hong Kong’s digital asset regulations and backed by U.S. Treasury bills and bank deposits, FDUSD maintains a fixed value of $1. It has quickly become the fourth-largest stablecoin after Tether's USDT, Circle's USDC, and MakerDAO's DAI, reaching a market capitalization of $3.3 billion since launch.
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