First Digital Trust plans to expand FDUSD to Sui to promote DeFi user adoption

ChainCatcher news, stablecoin issuer First Digital Trust announced on Wednesday that after launching on Ethereum and BNB Chain, it will expand the stablecoin FDUSD to the Sui blockchain. First Digital CEO Vincent Chok stated in an interview that this expansion is part of First Digital's efforts to increase the usage of FDUSD among DeFi users.

FDUSD is issued under Hong Kong's digital asset regulations and is backed by U.S. Treasury bills and bank deposits to maintain its price peg of 1 dollar. It has now become the fourth largest stablecoin, following USDT, USDC, and DAI, with a market capitalization of 3.3 billion dollars since its launch last year.