Hong Kong digital asset trust institution First Digital launches US dollar stablecoin

ChainCaycher news, according to The Block, Hong Kong digital asset trust institution First Digital is launching a programmable USD stablecoin FDUSD, capable of executing financial contracts, custody services, and insurance without intermediaries, but regulated in Asia. The reserves will be held in segregated accounts at Asian institutions.

The company added: First Digital Labs will work closely with local and overseas regulatory authorities to ensure full compliance with current and future applicable laws and regulations, and First Digital Labs will be involved in shaping its evolution, including FDUSD and/or any regulatory framework that First Digital may belong to in the foreseeable future. (Source link)