---
title: "First Digital USD (FDUSD) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/fdusd-first-digital/"
description: "Build-time stablecoin profile for First Digital USD (FDUSD). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-05-15"
---



# First Digital USD (FDUSD)

**Peg:** US Dollar

**Backing:** Real-World Asset Backed

**Governance:** Centralized (CeFi)

**Status:** active

## Overview

FDUSD is a BVI-issued dollar stablecoin backed by {{term:treasury}}T-bills{{/term}} and bank deposits with IAPA {{term:attestation}}attestations{{/term}} — clean reserves, but the same custodian lineage as troubled TUSD. First Digital USD rose to prominence as Binance's preferred stablecoin after BUSD's regulatory demise, and its reserves are genuinely clean: 74% T-bills, 18% cash, and the rest in bank deposits and overnight repos — all very-low risk, attested by IAPA International and Prism. The connection to First Digital Trust — the same {{term:custody}}custodian{{/term}} whose opaque fund investments make TUSD's reserves a red flag — is the uncomfortable shared lineage, though FDUSD's own reserve composition is transparent and conventional. Deployed across six chains including Sui, TON, and Solana alongside the expected EVM networks, the distribution follows Binance's ecosystem preferences more than organic DeFi demand. FDUSD's fate remains a single-dependency story: Binance's endorsement made it, and Binance's pivot to another preferred stablecoin could unmake it just as quickly.

## Collateral

Cash, U.S. Treasury bills, bank deposits, and overnight reverse repos held in fully segregated custodial accounts

## Peg Mechanism

Direct 1:1 redemption through FD121 (BVI) Limited; reserves custodied by First Digital Trust Limited

## Jurisdiction

| Country | Regulator | License |
| --- | --- | --- |
| British Virgin Islands | N/A | N/A |

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0xc5f0f7b66764f6ec8c8dff7ba683102295e16409` | 18 |
| bsc | `0xc5f0f7b66764f6ec8c8dff7ba683102295e16409` | 18 |
| arbitrum | `0x93c9932e4afa59201f0b5e63f7d816516f1669fe` | 18 |
| sui | `0xf16e6b723f242ec745dfd7634ad072c42d5c1d9ac9d62a39c381303eaa57693a::fdusd::FDUSD` | 6 |
| ton | `EQD0Evpk4timFOHmy4Sv3l_KEUXlM-dN1_KhroTCfB2wkO89` | 6 |
| solana | `9zNQRsGLjNKwCUU5Gq5LR8beUCPzQMVMqKAi3SSZh54u` | 6 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/fdusd-first-digital.