First Digital Group's stablecoin, FDUSD, fully backed 1:1 by cash, debuts on Binance. It offers programmability, smart contract interaction and Web3 compatibility. Celebratory zero maker fees for FDUSD trading pairs on Binance will be launched on July 26, 2023, at 08:00 (UTC).
the upcoming debut and listing of its stablecoin, First Digital USD , issued by FD121, would be on Binance. The announcement was made on July 26, 2023.statement, The FDUSD is fully backed by cash and cash equivalents, held in segregated accounts within regulated financial institutions. Independent third parties regularly monitor and audit these reserves. The FDUSD is designed to be redeemed at a 1:1 value in U.S. dollars.
Stablecoins are a class of cryptocurrencies that attempt to offer investors price stability either by being backed by specific assets or using algorithms to adjust their supply based on demand. The announcement states that the FDUSD is not only intended to be a programmable digital asset but also capable of interaction with
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