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Record sog_st_fdusd

FDUSDFirst Digital USD

Also recorded as FDUSD, First Digital USD

Active

Lifecycle: Active
Issuance: Restricted
Reference target: US dollar
Primary organization: First Digital / FD121No additional recorded relationship
Launch: 2023-06-01
Redemption: Eligible Customers Only
Backing: Fiat and cash equivalents
Stabilization: Issuer redemption
Last review: 2026-06-02
Evidence: 6 source records

Reviewed assessment

Identity and current state

This summary reports reviewed facts and uncertainty. It is not a rating or recommendation.

A US dollar stablecoin issued by First Digital, with issuer redemption limited to eligible clients and broad exchange use.

Name	First Digital USD
Symbol	FDUSD
Aliases	FDUSD, First Digital USD
Asset class	Stablecoin
Lifecycle status	Active
Issuance status	Restricted
Canonical record ID	`sog_st_fdusd`
Route slug	`fdusd`
Record confidence	Medium
Last reviewed	2026-06-02

Name: First Digital USD
Symbol: FDUSD
Aliases: FDUSD, First Digital USD
Asset class: Stablecoin
Lifecycle status: Active
Issuance status: Restricted
Canonical record ID: sog_st_fdusd
Route slug: fdusd
Record confidence: Medium
Last reviewed: 2026-06-02

Record coverage

Section	Entries
Organizations	1
Sources	6
Reserve reports	2
Reserve components	1
Model-history events	2
Regulatory notes	0
Deployments	2
Issuer-control actions	0
Open questions	2
Events	2

Organizations and control

Primary display is a navigation and summary choice only. It does not replace other organizations or imply sole legal responsibility, operational control, reserve custody, or historical continuity.

Governance: Centralized
Primary display organization: First Digital / FD121
Primary display role: Legal issuer
Display selection mode: Deterministic Policy
Current relationships: 1
Ended relationships: 0
Unknown relationship state: 0
Freeze capability: 0 recorded yes · 0 recorded no · 2 not recorded
Blacklist capability: 0 recorded yes · 0 recorded no · 2 not recorded
Deployment control-event references: 0
Observed issuer-control events: 0
Relationship coverage: 1 recorded relationship

All current, ended, and unknown-state organization relationships
Organization	Organization category	Regulatory character	Jurisdiction	Role	Display priority	From	Until	Relationship status
First Digital / FD121	Company or corporate group	Not recorded in canonical data	Hong Kong	Legal issuer	Primary display	2023-06-01	Not yet recorded	Active relationship

Company or corporate group

First Digital / FD121

Primary display

Functional role: Legal issuer
Relationship status: Active relationship
Regulatory character: Not recorded in canonical data
Jurisdiction: Hong Kong
From: 2023-06-01
Until: Not recorded

Mechanism

How the asset works

Reference, backing, stabilization, exit, valuation, and yield remain separate facts.

Reference target: US dollar
Reference kind: Fiat
Comparison category: US dollar
Target value: 1
Reference methodology: Targets a US dollar reference value unless the record documents a different target value.
Public backing model: Fiat and cash equivalents
Canonical backing types: Mixed
Reserve component categories: Unknown
Primary stabilization mechanism: Issuer redemption
Recorded model description: Fiat-backed
Redemption / exit model: Eligible Customers Only
Valuation source: Public information is incomplete
Yield / rebase profile: None recorded
Classification notes: Not recorded

Reserve and redemption

Recorded components, disclosures, reports, and redemption conditions remain explicit.

Reserve components

Mixed backing; component breakdown unresolvedUnknown after review

Reserve profile

Disclosure status	Available
Backing types	Mixed
Summary	Issuer reserve disclosures are available and tracked separately as historical records.
As of	2026-06-02
Profile confidence	Medium

Disclosure status: Available
Backing types: Mixed
Summary: Issuer reserve disclosures are available and tracked separately as historical records.
As of: 2026-06-02
Profile confidence: Medium

Redemption profile

Current status	Eligible Customers Only
Settlement asset	USD
Eligible parties	Approved First Digital clients after required checks.
Retail access	Not Direct from Issuer
Institutional access	Available Subject to Client Requirements
Minimum amount	Source review needed.
Fee	Subject to issuer terms.
Settlement time	Subject to issuer and banking operations.
Regional limits	Not offered to U.S. persons or persons acting for U.S. persons.

Current status: Eligible Customers Only
Settlement asset: USD
Eligible parties: Approved First Digital clients after required checks.
Retail access: Not Direct from Issuer
Institutional access: Available Subject to Client Requirements
Minimum amount: Source review needed.
Fee: Subject to issuer terms.
Settlement time: Subject to issuer and banking operations.
Regional limits: Not offered to U.S. persons or persons acting for U.S. persons.

Reserve and attestation history

Date	Publisher	Type	Assets covered	Record confidence
2026-06-02	First Digital Labs	Reserve Report Reference	Cash, Cash Equivalents, Not yet recorded	Medium
2026-06-07	First Digital	Issuer Disclosure Reference	Cash, Cash Equivalents, Not yet recorded	Medium

First Digital Labs

2026-06-02

Type: Reserve Report Reference
Assets covered: Cash, Cash Equivalents, Public information incomplete
Record confidence: Medium

Known unknowns and coverage

Missing or disputed facts remain visible instead of being converted into certainty.

Open questions

Topic	What remains unclear	Value state	Priority	Last checked
Reserve Report History	FDUSD reserve report history, issuer structure, and supported redemption channels need deeper documented review.	Unknown after review	Medium	2026-06-02
Access and Regions	FDUSD client access, jurisdiction limits, reserve report history, and supported chain references need further review.	Unknown after review	Medium	2026-06-07

Reserve Report History

FDUSD reserve report history, issuer structure, and supported redemption channels need deeper documented review.

Value state: Unknown after review
Priority: Medium
Last checked: 2026-06-02

Access and Regions

FDUSD client access, jurisdiction limits, reserve report history, and supported chain references need further review.

Value state: Unknown after review
Priority: Medium
Last checked: 2026-06-07

Lifecycle

History

Current classification remains separate from dated changes and incidents.

Model and lifecycle changes

2023-06-01First Digital launches FDUSDMigration
2023-08-31Binance expands support for FDUSD during the BUSD wind-downMigration

Event timeline

Date	Event	Category	Subtype	Status effect	Recovery
2023-06-01	First Digital launches FDUSD	Launch and introduction	Launch or Issuer Context	No lifecycle change	Not applicable
2023-08-31	Binance expands support for FDUSD during the BUSD wind-down	Adoption and expansion	Exchange Adoption Context	No lifecycle change	Not applicable

Related records and corrections

Corrections and further reading

Open connected records, methodology, machine-readable data, or report a correction.

Use these explainers to compare the legal, regulatory, reserve, redemption, or distribution questions connected to this record.

After MiCA: Which Stablecoins Can Europeans Actually Use?

A reviewed guide to EU/EEA stablecoin access, separating issuer status, platform state, customer scope, product functions, direct mint and redemption routes, payment rails, supported networks, and dates.

Network	Network record state	Standard	Public deployment category	Canonical deployment type	Operational state	Recorded status	Change or proposal state	Canonicality	Canonicality record state	Verification state	Contract identity state	Contract or identifier	Freeze	Blacklist	Control events	Notes
Ethereum	Specific network recorded	Not yet recorded	Issuer- or institution-supported deployment	Native or Issuer Supported	Active	Active	No separate change state recorded	Issuer-native deployment	Canonicality recorded	Verified	Identifier recorded	0xc5f0f7b66764F6ec8C8Dff7BA683102295E16409	Not yet recorded	Not yet recorded	0	Ethereum FDUSD contract confirmed from First Digital's signed reserve-account reporting.
multi_chain	Aggregate or multi-chain context	Not yet recorded	Issuer- or institution-supported deployment	Issuer Supported Token	Unknown or unresolved	Not yet recorded	No separate change state recorded	Issuer-native deployment	Canonicality recorded	Source-linked record; identifier not recorded	Identifier not recorded	Identifier not recorded	Not yet recorded	Not yet recorded	0	FDUSD chain coverage needs source review.

Source	Publisher	Source category	Provenance	Primary or secondary	Supported claims	Archive	Reliability
Binance BUSD support phase-out notice Published 2023-08-31	Binance	Official statement or announcement Canonical: Exchange Notice	Subject-controlled source	Primary source	Exchange Support Phaseout, Exchange adoption	No archive recorded	Medium
First Digital USD official site Published Not yet recorded	First Digital Labs	Official statement or announcement Canonical: Issuer Statement	Subject-controlled source	Primary source	Entity Redemption Reserve, Reserve, FDUSD reserve and company disclosure entry point	No archive recorded	Medium
First Digital USD official page Published Not yet recorded	First Digital	Official documentation or product page Canonical: Issuer Page	Subject-controlled source	Primary source	FDUSD overview, issuer context, reserve, redemption, and access restrictions, Fdusd Launch and Issuer Context	No archive recorded	Medium