First Digital Trust
First Digital Trust is a Hong Kong-based financial services firm specializing in digital asset custody and trust solutions, known for issuing the FDUSD stablecoin.
HeadquartersHong Kong
Founded2017
CEOVincent Chok
StageIPO Filed
FoundersVincent Chok
Websitefirstdigital.com ↗
LinkedInfirst-digital-trust ↗
Products
First Digital Trust Limited is a financial services firm based in Hong Kong, specializing in digital asset custody and trust solutions. Founded in 2017, the company is led by CEO Vincent Chok and is preparing to go public via a SPAC merger.
The company holds a Hong Kong Trust or Company Service Provider (TCSP) License and operates as a registered trust company under the Trustee Ordinance.
Regulatory Status
Hong Kong SAR
Trust or Company Service Provider Licence under AMLO
Hong Kong SAR
Registered trust company under Trustee Ordinance (Cap. 29) section 78(1)
Funding
| Round | Amount | Year |
|---|---|---|
| Seed | $3M | 2020 |
Frequently Asked Questions
Who issues FDUSD?
FDUSD is issued by FD121 (BVI) Limited, also known in First Digital's materials as First Digital Labs, and reserve custody is provided by First Digital Trust. First Digital describes FDUSD as redeemable 1:1 for U.S. dollars.
How is FDUSD backed?
First Digital states that FDUSD is fully backed by cash and cash equivalents and that reserves are held in fully segregated accounts by a licensed custodian. Its transparency page also says reserves are independently attested monthly.
What chains is FDUSD available on?
FDUSD operates across multiple chains and First Digital has announced native Solana support in addition to earlier Ethereum and BNB Chain availability. Public exchange education materials also describe FDUSD as operating natively across Ethereum, BNB Chain, Solana, Arbitrum, Sui and TON.