Until recently, a little-known stablecoin known as first digital usd (FDUSD) suddenly began to grow significantly in volume. Since August 4, 2023, its supply has increased by 62% - from $260 million to the current level of $423 million.

There has also been a global surge in trading volume, with FDUSD ranking sixth in trading volume among more than 10,000 existing cryptocurrencies on Saturday. According to coingecko.com, FDUSD has traded $1.51 billion in volume over the past 24 hours.

So far, Tether (USDT) maintains its position as the leading trading pair for Bitcoin (BTC), according to statistics from cryptocompare.com FDUSD is now the second-largest stablecoin for BTC and FDUSD occupies 7th position in the top 100.

First Digital coin (FDUSD) was first introduced in June 2023. It is a reserve-backed stablecoin issued by a subsidiary of financial institution First Digital Limited, headquartered in Hong Kong.

The FDUSD coin is already available on the Ethereum and BNB Chain networks, and listing on other blockchains is planned in the future.

FDUSD publishes a reserve audit report from independent auditors. According to this report, FDUSD is fully backed by cash of equivalent value or other financial instruments.
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