First Digital

On-chain AUM$325.84m

Platform totals

Live assets1

Chains5

DeFi TVL$4.08m

DeFi TVL / AUM1.25%

Confirmed attestations1 / 1

Primary accessPermissionless (1)

Totals for filtered assets

$325.84m

$4.08m

Assets Rankings

1d7d1m

Name		AUM			DeFi			Flows
Name
First Digital1 asset		$325.84m	$325.84m	-2.20%	$4.08m	1.25%	+42.89%

About First Digital

First Digital issues a fiat-backed stablecoin maintained at parity with its reference currency through reserve backing and redemption mechanisms. It enables fast, low-cost settlement of stablecoin transactions.

USD StableFiat StablecoinsPermissionless

Website Docs

Profile

Founded: 2017
Headquarters: Hong Kong, Hong Kong
Primary chain: BSC
Parent platform: First Digital
Issuer: First Digital Trust Limited

Economics & revenue

Mint fee0 bps

Redemption fee0 bps

Float incomeYes

Revenue confidenceIssuer-Disclosed

Fees last verified2026-07-09

Attestations & milestones

2026-04HKMA grants first stablecoin licenses with First Digital absent from the register
2025-08FDUSD issuance moved to FD121 (BVI) Limited
2025-04FDUSD depegged about 9 percent after Justin Sun insolvency allegations, with a defamation writ filed in Hong Kong
2024-10Solana expansion
2023-06FDUSD launched by FD121 Limited

Revenue methodology & documents

The whitepaper states zero fee minting and redemption as long as you mint more than you redeem, with no published schedule for net redeemers. Holders are not entitled to interest so reserve income is retained. Note the April 2025 depeg episode and unresolved litigation with Techteryx parties.

Issuer registry, regulation & leadership

Founders and leadership

Vincent Chok — Founder, CEO Gunnar Jaerv — COO

Regulatory status

FDUSD reserves are custodied by First Digital Trust Limited, a Hong Kong registered trust company and licensed Trust or Company Service Provider. The issuer moved from Hong Kong entity FD121 Limited to FD121 (BVI) Limited in August 2025, two weeks after the Hong Kong Stablecoins Ordinance took effect, and no First Digital entity appears on the HKMA register of licensed stablecoin issuers as of mid 2026. Monthly ISAE 3000 attestations are signed by AOGB CPA Limited.

Entity structure

First Digital Group has First Digital Trust Limited holding FDUSD reserves in segregated accounts and First Digital Labs as the issuer brand. Since August 2025 the issuer is FD121 (BVI) Limited, which is not a trust company or bank, with reserves legally segregated for bankruptcy isolation.

Issuer source